/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/170821.mbx T R O U B L E D C O M P A N Y R E P O R T E R Monday, August 21, 2017, Vol. 21, No. 232 Headlines 1776 AMERICAN: Sale of Houston Condo Unit for $36K Approved 1802 PALISADES: BMO to Get $200K Under Latest Plan 3982 CLUB: Hires Geiger Law as Bankruptcy Counsel 5 STAR INVESTMENT: Sale of South Bend Property for $22.5K Okayed ACADIANA MANAGEMENT: Taps Stout Risius Ross as Financial Advisor ADLER GROUP: Wants Exclusive Plan Filing Deadline Moved to Dec. 15 ADVANCED SOLIDS: Sale of 2 Shale Bins for $20K Approved AFFINITY HEALTH: Care of Residents Unaffected by Ch. 11 Cases ALEXANDER BROWN: Edwards Buying Dorchester Property for $510K ALPHA NURSING: Disclosures Don't Have Adequate Info, RehabCare Says ALSON ALSTON: District Ct. Upholds Dismissal of Bankruptcy Case ALTA MESA: S&P Puts B- CCR on Watch Pos. on Merger Agreement AMG INTERNATIONAL: Wants to Use France Sport's Cash Until Aug. 23 ANDERSON SHUMAKER: Seeks October 23 Plan Exclusivity Extension ANDROS DEVELOPMENT: Exclusive Plan Filing Deadline Moved to Oct. 24 ASSOCIATED THORACIC: Unsecureds to be Paid from Excess Cash Flow AUTUMN COVE: Latest Plan Discloses More Info on Plan Funding AVAYA INC: Reports Financial Results for Fiscal Qtr. Ended June 30 BADLANDS ENERGY: Badlands Production Selling All Assets for $5M BC ACQUISITIONS: To Pay Debts Through Property Sale BCC SANDUSKY: 4th Interim Cash Collateral Order Entered BEANERY 119: U.S. Trustee Unable to Appoint Committee BISHOP GORMAN: Wants Plan Filing Deadline Extended to Oct. 2018 BOWLIN FUNERAL: Taps Boul & Associates as Legal Counsel BRISTLECONE INC: Motion for OK to Obtain DIP Financing Denied CAPRI COAST: Taps Lewis Landau as New Legal Counsel CARE CAPITAL: S&P Withdraws BB+ CCR Following Merger With Sabra CARL MERKLE: Pilgrim, CCSC Allowed to Recover Attorney's Fees CAROLINA MOLD: May Use Cash Collateral Until Sept. 26 CEE HOTEL: Taps Callins Law Firm as Legal Counsel CHALMERS AUTOMOTIVE: U.S. Trustee Unable to Appoint Committee CHARIOTS OF PALM: Hires Michael Phelan as CRO CHARLES K. BRELAND: Crimson, A & R Seek Committee Appointment CHILDRESS GATEWAY: May Use Cash Collateral Through Sept. 30 CIRCLE Z: Unsecureds to Get 2% of Bank Collateral Sale Proceeds CORBETT-FRAME INC: Wants to Use Cash Collateral on Interim Basis CROFCHICK INC: Oct. 5 Amended Plan Outline Hearing Set CROFCHICK REALTY: Amended Plan Hearing Set for Oct. 5 CYPRESS ASSOCIATES: U.S. Trustee Unable to Appoint Committee DARDEN-GREEN CO: Bankruptcy Administrator Objects to Disclosures DAVE 60 NYC: Hearing on Plan Filing Extension Set for Sept. 6 DAVID GEERTS: Almburg Okayed to Auction Farm Equipment DIGIDEAL CORP: Automatic Stay Bars S. Coady from Filing Complaint DMH LEASING: Taps Weinstein & St. Germain as Legal Counsel DOUBLE EAGLE: Taps Colvin Smith as Special Counsel DOUBLEVIEW CAPITAL: Receives Default Notice on Convertible Notes ENGLEWOOD MISSIONARY: Taps Wilson Harrell as Legal Counsel ENUMERAL BIOMEDICAL: Has $3.13M Q2 Loss, Winding Down Operations ESTEBAN DISTRIBUTOR: Wants More Time to Confirm Plan FCBM LLC: Has Approval to Use Cash Collateral FRESH FANATIC: Case Summary & 20 Largest Unsecured Creditors FRIENDSHIP VILLAGE: Wants Oct. 17 Plan Exclusivity Extension FRONTIER COMMUNICATIONS: S&P Cuts Ratings on 2 Debt Classes to B FTHG DEVELOPMENT: Has Interim Nod to Use Cash Collateral GALLEON MANAGEMENT: Raj Rajaratnam Fights for Fraud Case Dismissal GARBER BROS: May Use Cash Collateral Through Oct. 6 GLOBAL COMPUTER: Law Firm Did Not Commit Legal Malpractice GLOBAL EMPOWERMENT: Hearing on Cash Collateral Use Set for Aug. 22 GOD'S HOUSE OF REFUGE: May Use Cash Collateral Until Sept. 21 GOLDEN MARINA: Seeks October 24 Extension of Exclusivity Periods GORDMANS STORES: Files Chapter 11 Plan of Liquidation GRAND VIEW: Case Summary & 20 Largest Unsecured Creditors GRIER BROS: Hires Tookes and Associates as Accountant GTT COMMUNICATIONS: S&P Affirms 'B+' CCR, Outlook Negative HAHN HOTELS: Wants to Use Cash Collateral Through Dec. 2 HARDROCK HDD: Exclusive Plan Filing Period Extended to Oct. 12 HARRINGTON & KING: Agreed Cash Collateral Use Entered HD SUPPLY: S&P Puts 'BB' Term Loan B-1 Rating on Watch Positive HEALTH CARE TEMPORARIES: Unsecureds to be Paid $2.5K Annually HELIOS AND MATHESON: Incurs $5.22 Million Net Loss in 2nd Quarter HOME EXPERT: Hires Patrick Christopher as Attorney ILIANA NEUROSPINE: Hires Newpoint Advisors as Financial Advisors INFOMOTION SPORTS: Trustee Taps Verdolino as Expert Witness INNOVOSCIENCES LLC: Taps Joseph J. D'Agostino as Legal Counsel INSTITUTE OF CARDIOVASCULAR: Wants to File Ch. 11 Plan by Nov. 13 IRASEL SAND: Taps Dean W. Greer as Legal Counsel JAMES ARRIGAN: Kudair Buying Interest in Katy Property for $162K JN MEDICAL: Needs Additional 90 Days to Solicit Plan Votes JOBY HURST: Hires C. Taylor Crockett as Attorney JT TRANSIT: Court Confirms Chapter 11 Plan of Reorganization JUBEM INVESTMENTS: Wants to Use Cash Collateral to Fund Operations KEELER'S MEDICAL: U.S. Trustee Names W. Avery as PCO KELLERMEYER BERGENSONS: S&P Hikes 1st Lien Loan Rating to 'B' KERSEY-BORAH: Wants Plan Filing Exclusivity Moved to Feb. 25 KHAN GROUP: Wants to Use Benevolent Management's Cash Collateral LEXINGTON HOSPITALITY: Wants to Use PCG Credit's Cash Collateral LIFELINE SLEEP: Unsecureds to Recover 1% Under Plan LIMITED STORES: Wants Plan Filing Exclusivity Extended to Nov. 10 LIVING BENEFITS FINANCIAL: Files Amended Liquidation Plan LOUISIANA-PACIFIC CORP: S&P Raises CCR to BB+, Outlook Stable MACIEJ PAINT: Disclosures OK'd; Sept. 13 Plan Confirmation Hearing MARKHAM, IL: S&P Cuts GO Bond Rating to B+ Due to High Debt Burden MAXIMUM LEGAL: Hires Levene Neale as Bankruptcy Counsel METHANEX CORP: S&P Alters Outlook to Stable & Affirms BB+ CCR MIDWEST ASPHALT: Wants to Continue Using Cash Until Dec. 31 MONTAINER CORPORATION: Hires Binney Law as Counsel MRI INTERVENTIONS: Posts 2nd Quarter Revenue of $1.9 Million NEW CAL-NEVA: Lawrence Investments Proposes to Buy Debtor's Assets NEW CAL-NEVA: Northlight, Enchantment Group to Fund Penta's Plan NEW CAL-NEVA: Rand CN to Fund Ladera's Plan with $1.8MM Cash NEW CAL-NEVA: Sherman, Terramar to Fund Leslie Busick Plan NORTHERN POWER: Posts $873,000 Net Income in Second Quarter OIL PATCH TRANSPORTATION: U.S. Trustee Unable to Appoint Committee ORANGE PARK DENTAL: Asks for Court's Nod to Use Cash Collateral ORANGE PARK DENTAL: Taps Jason A. Burgess as Legal Counsel OSIES INC: Voluntary Chapter 11 Case Summary PAC ANCHOR: Taps Haberbush & Associates as Legal Counsel PAC ANCHOR: Taps Trojan and Company as Accountant PALMETTO'S SMOKE: Unsecureds to Recover 25% Over 60 Months PANDA TAXI: Case Summary & 7 Unsecured Creditors PAS REAL ESTATE: May Use Cash Collateral Through Sept. 30 PEDRO LOPEZ MUNOZ: 1st Circuit Upholds Denial of Trustee Appt. Bid PEEKAY ACQUISITIONS: Seeks Authorization on Cash Collateral Use PETROLEUM SPECIALTY: Wants to Use Midsouth Bank Cash Collateral PETROLIA ENERGY: Files Pro Forma Financial Information PIONEER CARRIERS: U.S. Trustee Unable to Appoint Committee POST GREEN FELL: Hires Vanguard as Real Estate Broker PREMIER KIDS: Wants to Use Cash to Keep Daycare Operations PRO-SPEC CORP: Has Interim Approval to Use Cash Collateral QUEST PATENT: Reports $306,343 Net Loss for Second Quarter RANCO COACHELLA: Taps Timothy P. Thomas as Legal Counsel REX ENERGY: McDonough Quits as SVP, Gen. Counsel and Secretary RICHMOND LIBERTY: Court Approves Latest Disclosure Statement RISE ENTERPRISES: Wants to Use Cash Collateral Until Sept. 5 RONIC INC: Case Summary & 8 Unsecured Creditors RPM HARBOR: Committee Taps CohnReznick as Financial Advisor RUNNING M RANCH: Hires Klingenberg & Associates as Accountant RUNNING M RANCH: Hires Riggs Abney as Counsel SAM WYLY: Sale of SL LLC's Dallas Property for $870K Approved SED INTERNATIONAL: Court Extends Plan Filing Until Oct. 4 SEMLER SCIENTIFIC: Incurs $850,000 Net Loss in Second Quarter SEVEN OAKS: Liquidation Analysis Modified in 3rd Amended Plan SHORT BARK: Committee Hires Gellert Scali as Delaware Counsel SHORT BARK: Creditors' Panel Hires Lowenstein Sandler as Counsel SHORT BARK: Creditors' Panel Hires Teneo as Financial Advisor SHORT BARK: Hires Bielli & Klauder as Counsel SKYLINE MANOR: Court Dismisses Suit Against R. Rynard SPECTRUM ALLIANCE: Committee Taps Duane Morris as Legal Counsel STAND 2: Taps Carmody MacDonald as Legal Counsel STARR PASS: Latest Plan Adds Estimated Amount Owed to Unsecureds STEMTECH INT'L: Wants Exclusive Plan Filing Extended to Oct. 16 STERLING ENTERTAINMENT: Taps Kaempfer Crowell as Attorneys STINAR HG: Wants to Continue Using Cash Collateral Through Dec. 31 T&L MOBILE: U.S. Trustee Unable to Appoint Committee TAMARA REEDER: Eichman Wants Trustee to Organize Sale TARA RETAIL: Insider Unsecured Claims to Get No Distributions TARTAN PINES: U.S. Trustee Unable to Appoint Committee TD MANUFACTURING: Hiring Dickensheet to Sell Unnecessary Equipment TEXAS PELLETS: Hires Navigant Consulting as Insurance Consultant TK HOLDINGS: Tort Panel Taps Gilbert LLP as Insurance Counsel TK HOLDINGS: Tort Panel Taps Pachulski Stang as Legal Counsel TK HOLDINGS: Tort Panel Taps Sakura Kyodo as Special Counsel TLC HEALTH: Ombudsman Files 21st Report TOWERSTREAM CORP: Reports $5.37 Million Net Loss for 2nd Quarter TROVERCO INC: Committee Taps Protiviti as Financial Advisor TRUE RELIGION: Hires Province as Financial Advisor TRUMBLE AND KOCUR: Taps Gordon & Schaal as Legal Counsel TURNBERRY/MGM GRAND: Court OKs Disclosures, Confirms Plan UNILIFE CORP: SSG Acted as Investment Banker in Asset Sale UNITED MOBILE: May Use Cash Collateral Through Oct. 31 UNITED MOBILE: May Use Cash Collateral Through Oct. 31 UTE MESA LOT 2: Hires Altman Brothers as Real Estate Broker VALLEY PETROLEUM: Case Summary & 6 Unsecured Creditors VANGUARD HEALTHCARE: Seeks to Expand Scope of Bradley Services VANGUARD NATURAL: Deloitte Approved as Valuation Service Provider VERSACOM LP: Wants to Use Cash Collateral of IRS VIA NIZA: Amended Plan Gives Payments to Triangle Reo VITARGO GLOBAL: Ch.11 Trustee Hires Arent Fox as Bankr. Counsel VMF INC: Disclosures Approved; Oct. 5 Plan Hearing Set WALLER MARINE: U.S. Trustee Unable to Appoint Committee WALTER INVESTMENT: Revises RMS Pacts Provisions to Avoid Default WAVELAND RESORT: Court Rejects Disclosure Statement WONDERWORK INC: Court Denies Kocich, et al.'s Motion to Intervene YIELD10 BIOSCIENCE: Incurs $2.72 Million Net Loss in Second Quarter [^] BOND PRICING: For the Week from August 7 to 11, 2017 ********* 1776 AMERICAN: Sale of Houston Condo Unit for $36K Approved ----------------------------------------------------------- Judge Karen K. Brown of the U.S. Bankruptcy Court for the Southern District of Texas authorized 1776 American Property IV, LLC, and affiliates to sell APRF SP1-1, LLC's condominium unit 1204, 6001 Reims Road, Houston, Texas, to Michael Loayza and Maria Cristina Loayza for $36,400. The sale of the Property by the Debtor to the Purchaser will be made "as is, where is" with no representations or warranties of any kind (except as to title). With the exception of the 2017 ad valorem tax lien, the sale of the Property is free and clear of all liens, claims, encumbrances, judgments, deeds of trust, and other interests. All ad valorem tax liens on the Property will be paid at closing, and the seller's portion of all normal and customary closing costs and fees, including but not limited to the HOA's fees or dues. Any liens, claims and encumbrances, attach to the net sale proceeds in the same order of priority as exist under non-bankruptcy law. The broker commissions identified in the Contract are approved and will be paid at closing. Erich Mundinger is authorized on behalf of the Debtor to execute all instruments and documents and to perform all other actions necessary to consummate the transaction contemplated under the Order and the Contract. The 14-day stay requirements of Bankruptcy Rule 6004(h) are waived. About 1776 American Properties IV 1776 American Properties IV LLC and its 12 affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 17-30422) on Jan. 27, 2017. The petitions were signed by Jeff Fisher, director. 1776 American Properties IV estimated assets of $1 million to $10 million and liabilities of less than $50,000. The cases are assigned to Judge Karen K. Brown. Josh T. Judd, Esq., at Andrews Myers PC, serves as the Debtors' bankruptcy counsel. No trustee or examiner has been appointed in the bankruptcy cases and no official committee of unsecured creditors has been established. 1802 PALISADES: BMO to Get $200K Under Latest Plan -------------------------------------------------- 1802 Palisades Investments, LLC, filed with the U.S. Bankruptcy Court for the Western District of Missouri a first amended disclosure statement to accompany its plan of reorganization. This latest filing asserts that on Aug. 17, 2011, the Debtor LLC was formed and acquired the real estate (the Property) located at 1802 Palisades, Lake Ozark, Missouri. The property consists of 1/2 acre and the lake front house of approximately 4,517 square feet. The property was originally purchased in 2009 by Patsy and Barrett Prelogar, husband and wife. The acquisition was financed by purchase money loans from Bank of America, N.A. and M&I Bank, now BMO Harris Bank. The Bank of America loan is secured by a first deed of trust with an approximate balance of $362,610, requiring monthly payments of $2,904. The BMO loan is secured by a second deed of trust with an approximate balance of $334,832. All payments were made on that loan which matured in November 2016. BMO would not extend the terms of the note and began foreclosure proceedings which precipitated the filing of this reorganization case. On Sept. 6, 2011, the Debtor LLC was formed, with Patsy Prelogar as the sole member. The Prelogars thereafter, by quit claim deed, conveyed the Property to the Debtor, which is the Debtor's sole asset. The indebtedness owed the banks is that of the Prelogars and not the Debtor. However, the deeds of trust encumbering the Property constitute claims as defined in 11 U.S.C. section 101(5)(B). The Debtor also proposes to pay the Class III Claim $200,000 in cash on the later of Aug. 31, 2017, or the Effective Date. The funds to make this payment will emanate from one or more of the following sources: personal funds of the Prelogars; loans to the Prelogars personally from relatives; revenue from business entities owned by Barrett Prelogar, or a combination thereof. Class 3 is the claim of BMO Harris Bank as successor to M&I Marshall & Ilsley Bank (BMO). BMO is the holder of a Second Deed of Trust against the Debtor's property. The Debtor is current in all payments to BMO in accordance with the loan documents. The loan matured and BMO instituted foreclosure proceedings. The Troubled Company Reporter previously reported that the reorganized company will continue to operate its property and will collect rents to ensure payment to creditors. If additional funds are needed to implement the plan, Patsy Prelogar, a member, will from time to time make the capital contributions. A copy of the First Amended Disclosure Statement is available at: http://bankrupt.com/misc/mowb17-20009-11-37.pdf About 1802 Palisades Headquartered in Leawood, Kansas, 1802 Palisades, LLC, filed for Chapter 11 bankruptcy protection (Bankr. W.D. Mo. Case No. 17-20009) on Jan. 9, 2017, disclosing $2.05 million in total assets and $2.15 million in total liabilities. Patsy Prelogar, authorized representative, signed the petition. Berman, DeLeve, Kuchan & Chapman, LLC, serves as bankruptcy counsel to the Debtor. No official committee of unsecured creditors has been appointed in the case. 3982 CLUB: Hires Geiger Law as Bankruptcy Counsel ------------------------------------------------- 3982 Club Drive, LLC seeks authorization from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Geiger Law, LLC as counsel. The Debtor requires Geiger Law to: (a) advise the Debtor with respect to its powers and duties as debtor and debtor-in-possession in the continued management and operation of its business and property; (b) attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the Chapter 11 case, including all of the legal and administrative requirements of operating in Chapter 11; (c) take necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on its behalf, the defense of any actions commenced against the estate, negotiations concerning all litigation in which the Debtor may be involved and objections to claims filed against the estate; (d) review and prepare on behalf of Debtor all documents and agreements as they become necessary and desirable; (e) review and prepare on behalf of the Debtor all motions, administrative and procedural applications, answers, orders, reports and papers necessary to the administration of the estate; (f) negotiate and prepare on the Debtor's behalf a plan of reorganization, disclosure statement and all related agreements and documents and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; (g) review and object to claims; analyze, recommend, prepare and bring any causes of action credited under the Bankruptcy Code; (h) advise the Debtor in connection with any sale of assets; (i) appear before the Court, any appellate courts, and the U.S. Trustee, and protect the interests of Debtor's estate before such courts and the U.S. Trustee; and (j) perform all other necessary legal services and give all other necessary legal advice to the Debtor in connection with the Chapter 11 case. David A. Geiger will be paid an hourly rate of $330 for his services. Geiger Law will also be reimbursed for reasonable out-of-pocket expenses incurred. Geiger Law received one retainer payment prepetition from the Debtor's principal, Allen Miller, in the amount of $6,717, for work to be performed with respect to the Chapter 11 case. David A. Geiger, a managing member of Geiger Law, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estate. Geiger Law can be reached at: David A. Geiger, Esq. GEIGER LAW, LLC 1275 Peachtree Street NE, Suite 525 Atlanta, GA 30309 Tel: (404) 815-0040 Fax: (404) 549-4312 E-mail: david@geigerlawllc.com About 3982 Club Drive LLC 3982 Club Drive, LLC, based in Atlanta, Georgia, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 17-63460) on August 1, 2017. David A. Geiger, Esq., at Geiger Law, LLC, serves as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by Allen Miller, manager. 5 STAR INVESTMENT: Sale of South Bend Property for $22.5K Okayed ---------------------------------------------------------------- Judge Harry C. Dees, Jr., of the U.S. Bankruptcy Court for the Northern District of Indiana authorized the private sale by Douglas R. Adelsperger, Trustee of 5 Star Investment Group, LLC and affiliates, of real estate commonly known as 1915 The Real Estate Avenue, South Bend, St. Joseph County, Indiana, to South Bend 7, LLC for $22,500. The sale of the Real Estate is "as is and where is and with all faults," no representations or warranties of any kind, and free and clear of any and all liens, encumbrances, claims or interests. The Tiffany Group has waived its commission for the sale of the Real Estate in the sum of $1,125.00, and therefore Tiffany Group will not receive a commission from the sale of the Real Estate. At closing, the Trustee is authorized to direct Meridian Title Co. to disburse from the proceeds from the sale, first to pay the costs and expenses of the sale, second to pay all real estate taxes and assessments outstanding and unpaid at the time of closing, including the Tax Lien, and third to pay any other special assessments Liens, utilities, water and sewer charges and any other charges customarily prorated in similar transactions. The Trustee is authorized and directed to retain the excess proceeds from the sale of the Real Estate until further order of the Court. Notwithstanding any provisions of the Bankruptcy Code or Bankruptcy Rules, the Order will be effective and enforceable immediately upon entry, and any stay thereof, including without limitation Bankruptcy Rule 6004(h), is abrogated. About 5 Star Investment Group On Nov. 5, 2015, the U.S. Securities Exchange Commission ("SEC") filed a complaint against Earl D. Miller, 5 Star Capital Fund, LLC and 5 Star Commercial, LLC, in the United States District Court for the Northern District of Indiana, Hammond Division ("SEC Action"). In its complaint, the SEC alleged that Miller, 5 Star Capital Fund, and 5 Star Commercial defrauded at least 70 investors from whom they raised funds of at least $3,900,000. Additionally, on Nov. 5, 2015, the SEC obtained an ex parte temporary restraining Order, asset freeze and other emergency relief in the SEC Action. 5 Star Investment Group and its 10 affiliates owned by Eardl D. Miller sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ind. Lead Case No. 16-30078) on Jan. 25, 2016. 5 Star estimated its assets at up to $50,000 and its liabilities between $1 million and $10 million. The Debtors' counsel was Katherine C. O'Malley, Esq., at Cozen O'Connor, in Chicago, Illinois. The cases are assigned to Judge Harry C. Dees, Jr. On Feb. 29, 2016, Douglas R. Adelsperger was appointed as Chapter 11 trustee in each of the bankruptcy cases. On March 23, 2016, the Court entered an order consolidating the bankruptcy cases for purposes of administration only. On June 24, 2016, the Court entered its agreed order granting the Trustee's Motion for substantive consolidation, substantively consolidating the Debtors' bankruptcy cases for all postpetition matters and purposes, effective as of the Petition Date, and deeming that all assets and liabilities of the bankruptcy cases to be consolidated into one bankruptcy estate, to be administered in accordance with the Bankruptcy Code under the jurisdiction of the Court ("Consolidated Bankruptcy Estate"). On July 21, 2016, the Court entered order granting application to employ Tiffany Group Real Estate Advisors, LLC, as the bankruptcy estates' broker. The Trustee's attorneys: RUBIN & LEVIN, P.C. Meredith R. Theisen Deborah J. Caruso John C. Hoard James E. Rossow, Jr. Meredith R. Theisen 135 N. Pennsylvania Street, Suite 1400 Indianapolis, Indiana 46204 Tel: (317) 634-0300 Fax: (317) 263-9411 E-mail: dcaruso@rubin-levin.net johnh@rubin-levin.net jim@rubin-levin.net mtheisen@rubin-levin.net ACADIANA MANAGEMENT: Taps Stout Risius Ross as Financial Advisor ---------------------------------------------------------------- Acadiana Management Group, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire Stout Risius Ross Advisors, LLC and Stout Risius Ross, LLC as financial advisors. The firms will provide financial advisory, investment banking, and supplemental support services to the Debtors to assist in pursuit of all possible strategic alternatives, including refinancing of capital structure, restructuring existing debt, and the sale of certain assets through the bankruptcy process. Specifically, the firms will: (a) assist the Debtors in the development and distribution of information, documents and other materials, and advise them on the preparation of an offering memorandum; (b) assist the Debtors in evaluating indications of interest and proposals regarding any transaction from current or potential lenders, equity investors, acquirers and strategic partners; (c) assist the Debtors and participate with creditors in the negotiation of any transaction; (d) provide expert advice and testimony, if necessary, regarding financial matters related to any transaction; and (e) attend meetings of the Debtors' Board of Directors, creditor groups, official constituencies and other interested parties as mutually agreed. In addition, the firms will provide these services in connection with the bankruptcy proceedings as requested by the Debtors: (a) preparation of cash forecasts; (b) analysis of receivables and development of short-term forecasting tool; (c) cash reporting on an individual debtor basis if so requested; (d) weekly budget to actual variance analysis; (e) analysis of planned disbursements and proposed critical vendor payments; (f) overall vendor management; (g) identification of other short and long-term liquidity enhancements; (h) preparation of schedules, analyses and projections to support a plan of reorganization; (i) assistance in the preparation of monthly operating reports; (j) analysis of assumption and rejection issues regarding executory contracts and leases; and (k) assistance with claims and resolution procedures. The Debtors will pay Stout Risius for its investment banking services a monthly fee of $50,000. Stout Risius will also be compensated on a "success fee" basis: (a) Restructuring Transaction Fee. Upon confirmation of a plan of reorganization, SRRA will receive a restructuring transaction fee of $750,000. To the extent one or more financing transaction fees are earned and paid to the firm, 50% of such fees will be credited against any restructuring transaction fee. (b) Sale Transaction Fee. Upon the closing of each sale transaction, SRRA will be paid from the gross proceeds a fee based upon the "aggregate gross consideration" calculated as: (i) AGC up to $35 million – $750,000; (ii) AGC from $35 million to $53 million – $750,000, plus 2.5% of incremental AGC above $35 million; (iii) AGC above $53 million – $1,290,000, plus 3.5% of incremental AGC above $35 million. (c) Financing Transaction Fee. Upon the closing of each financing transaction, SRRA will receive and be paid from the gross proceeds a fee equal to the sum of: (i) 2% of the gross proceeds of any indebtedness raised or committed that is senior to other indebtedness of the Debtors, secured by a first priority lien and unsubordinated, with respect to both lien priority and payment, to other obligations of the Debtors, including debtor-in-possession financing; (ii) 4% of the gross proceeds of any indebtedness raised or committed that is secured by a lien (other than a first lien), is unsecured or subordinated; (iii) 6% of the gross proceeds of all equity or equity- linked securities, including convertible securities and preferred stock placed or committed; (iv) in connection with uni-tranche debt financing, which represents a hybrid of senior and unsecured debt, the applicable fee will similarly reflect a hybrid of the senior and unsecured debt finance fee as mutually agreed between the parties. All members and employees of the firms do not hold any interest adverse to the Debtors or their estates, according to court filings. The firms can be reached through: Michael Krakovsky Stout Risius Ross Advisors LLC 10100 Santa Monica Boulevard, Suite 1050 Los Angeles, CA 90067 Phone: +1.310.846.8895 / +1.310.601.2300 Email: mkrakovsky@stoutadvisory.com About Acadiana Management Acadiana Management and several affiliates sought Chapter 11 bankruptcy protection (Bankr. W.D. La. Lead Case No. 17-50799) on June 23, 2017. The petitions were signed by August J. Rantz, IV, president. Acadiana Management estimated assets of less than $50,000 and debt at $50 million and $100 million. Judge Robert Summerhays presides over the cases. Gold, Weems, Bruser, Sues & Rundell, serves as the Debtors' bankruptcy counsel. On July 28, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Susan Goodman was appointed as patient care ombudsman. ADLER GROUP: Wants Exclusive Plan Filing Deadline Moved to Dec. 15 ------------------------------------------------------------------ Adler Group, Inc., requests the U.S. Bankruptcy Court for the District of Puerto Rico to extend the exclusivity period to submit its disclosure statement and plan of reorganization by 120 days until Dec. 15, 2017, from Aug. 18. The Debtor also asked that the deadline to procure the votes under the plan be extended for a term of 60 days after the order granting the approval of the disclosure statement is entered. The Debtor says it has moved forward in its reorganization process and is in compliance with all of its duties under the Bankruptcy Code and the Guidelines of the U.S. Trustee. The Debtor attended the meeting of creditors, which was held and closed, and appeared at the status conference. The Debtor states that it is in the process of conducting an assessment of its claims in order to enter into negotiations with key creditors that are necessary in order to propose the plan. Nevertheless, the deadline to submit proofs of claims expires on Oct. 24, 2017. It is indispensable for Debtor to be able to reconcile all claims in order to propose a complete, viable and effective plan that accounts for all claims. Due to the need of reconciling all timely filed claims and concluding negotiations with creditors, the Debtor says it is not in a position, at this juncture, to file its Disclosure Statement and Plan of Reorganization. The Debtor says its request for extension of the exclusivity period contemplates the deadline for creditors to file proofs of claim and, will allow it to conclude the reconciliations and negotiations with creditors. About Adler Group Inc. Adler Group Inc. owns the Caguas Military property located at Carr 189 km 3.1 (interior) Rincon Ward, Gurabo Puerto Rico, which is valued at $3 million. It holds inventory and equipment worth $513,870. For 2015, the Debtor posted gross revenue of $1.61 million 2015 and gross revenue of $1.91 million for 2014. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 17-02727) on April 20, 2017. The petition was signed by Jose Torres Gonzalez, authorized representative. At the time of the filing, the Debtor disclosed $3.52 million in assets and $4.43 million in liabilities. The case is assigned to Judge Mildred Caban Flores. The Debtor hired MRO Attorneys at Law, LLC, as bankruptcy counsel. ADVANCED SOLIDS: Sale of 2 Shale Bins for $20K Approved ------------------------------------------------------- Judge Ronald B. King of the U.S. Bankruptcy Court for the Western District of Texas authorized Advanced Solids Control, LLC's sale of two 4' shale bins located in its yard at 4116 Tidwell Road, Carlsbad, New Mexico, to Closed Loop Specialties for $20,000 ($10,000 each). The sale is free and clear of all liens, claims and encumbrances. The sale proceeds are to be paid to WTF Rentals, LLC, as a partial payment on its secured claim. A copy of the list of the 16 shale bins attached to the Order is available for free at: http://bankrupt.com/misc/Advanced_Solids_178_Order.pdf About Advanced Solids Control Advanced Solids Control, LLC, is an oilfield service company specializing in solids control for land-based oil and gas drilling operations. Advanced Solids sought Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-52748) on Dec. 2, 2016. W. Lynn Frazier, managing member, signed the petition. The Debtor estimated assets of less than $50,000 and liabilities of less than $1 million. William R. Davis, Jr., Esq., at Langley & Banack, Inc., serves as bankruptcy counsel to the Debtor. Pena and Grillo PLLC serves as special counsel. AFFINITY HEALTH: Care of Residents Unaffected by Ch. 11 Cases ------------------------------------------------------------- Nancy Shaffer, patient care ombudsman for Affinity Health Care Management, Inc., Health Care Investors, Inc., d/b/a Alexandria Manor, Health Care Alliance, Inc. d/b/a Blair Manor, Health Care Assurance, L.L.C. d/b/a Douglas Manor and Health Care Reliance, L.L.C. d/b/a Ellis Manor, filed a report with the U.S. Bankruptcy Court for the District of Connecticut, regarding the overall health, welfare and well-being of all individuals who reside in these Affinity nursing homes. The PCO along with the Long-Term Care Ombudsman Program continues to monitor quality of life and care on behalf of residents of the Debtors' facilities, and makes following findings: A. Blair Manor: Blair Manor's census as of July 26, 2017, is 75 out of 98. Staffing levels remain above state standards. The home has a new Social Worker, Therapeutic Recreation Director and day shift RN unit manager since last report to the Court. There has been a change in the rehabilitation services provider, it is now Preferred Rehab. No other changes in vendors are reported and no issues regarding supplies for residents have been observed or reported. The Ombudsman Program has not observed changes in care and services at this home during the past sixty days. Residents and families do not report that they have not noticed any changes in their care or services during the bankruptcy process. The Court appointed Receiver, Ms. Phyllis Belmonte, is in the process of conducting a viability study of the three home's financial standing and her reports with recommendations are due to the Court September, 2017. B. Douglas Manor: Douglas Manor's census is 77 out of 90 licensed beds as of July 28, 2017, which remains at about the same census as at the onset of the bankruptcy reorganization. There have not been any administrative changes since last report to the Court. There is a temporary Social Worker while the Social Worker is on a medical leave. There are no reports of vendor changes or issues about supplies. The Ombudsman Program has not received any complaints in past sixty days either from residents or their representatives regarding the care and services rendered at this home. Douglas Manor remains quite stable and serves its surrounding community well. C. Ellis Manor: The census at Ellis Manor as of July 19, 2017, is 90 with 2 residents hospitalized. The Ombudsman Program has not received any complaints from residents or family members regarding care and services at Ellis Manor since last report to the Court. The Ombudsman observes that the home is clean and well-kept, but as has been previously reported, the home does appear old and in need of such things as new carpeting, fresh updates to rooms, etc. This home satisfies a need for long term care services in its immediate community. Ms. Belmonte reports that she is currently interviewing to fill the position of Administrator -- the position became vacant on July 19, 2017. Per Ms. Belmonte there are no issues related to supplies. She reports that the home contracted with a new therapy services vendor and that this transition in services has been smooth. A full-text copy of the PCO Report dated July 31, 2017, is available at https://is.gd/859RPz About Affinity Health Care Management Affinity Health Care Management, Inc., Health Care Investors, Inc. d/b/a Alexandria Manor, Health Care Alliance, Inc. d/b/a Blair Manor, Health Care Assurance, L.L.C. d/b/a Douglas Manor and Health Care Reliance, L.L.C. d/b/a Ellis Manor, are a nursing home management company. They filed for Chapter 11 bankruptcy protection (Bankr. D. Conn. Case Nos. 16-30043 to 16-30047) on January 13, 2016. Hon. Julie A. Manning presides over the cases. Elizabeth J. Austin, Esq., Irve J. Goldman, Esq. and Jessica Grossarth, Esq., at Pullman & Comley, LLC, serve as counsel to the Debtors. In its petition, Affinity Health Care Management estimated $50,000 to $100,000 in assets and $500,000 to $1 million in liabilities. The Debtors noted in a court filing that their total secured and unsecured debt exceeding $16 million. The Debtors' petitions were signed by Benjamin Fischman, president. A committee of unsecured creditors has been appointed and Neubert Pepe & Monteith, P.C. has been retained as the committee's counsel. Nancy Shaffer was appointed patient care ombudsman for the Debtors. ALEXANDER BROWN: Edwards Buying Dorchester Property for $510K ------------------------------------------------------------- Alexander Brown filed with the U.S. Bankruptcy Court for the District of Massachusetts a notice of his private sale of real property located at 31 Downer Avenue, Dorchester, Massachusetts, to LaCrissa Rene Edwards for $510,000, subject to higher and better offers. A hearing on the Motion is set for Sept. 12, 2017 at 9:30 a.m. The objection deadline is Sept. 7, 2017 at 4:30 p.m. The Property is a two-family residential dwelling. The Debtor has received an offer to purchase the Property for $510,000 in cash, subject to a mortgage contingency and a gift of equity from the Buyer. The Buyer is the mother of one of the Debtor's children. The sale will take place no later than Aug. 31, 2017. The Buyer has not paid a deposit. The terms of the proposed sale are more particularly described in a Motion for Order Authorizing and Approving Private Sale of Property of the Estate filed with the Court on Aug.12, 2017, and a written purchase and sale agreement attached to the Motion. The Motion to Approve Sale and the purchase and sale agreement are available at no charge upon request from the Debtor's counsel. The Property will be sold free and clear of all liens, claims and encumbrances. Any perfected, enforceable valid liens will attach to the proceeds of the sale according to priorities established under applicable law. The holders of such liens are requested to provide the Debtor's counsel with a payoff statement within five days of receipt of the Notice. Through the Notice, higher offers for the Property are solicited. Any higher offer must be at least 10% higher, and must be accompanied by a cash deposit of 10% of the higher offer. Except as stated in the Notice, higher offers must be on the same terms and conditions provided in the Purchase and Sale Agreement, other than the purchase price. More particularly, the higher offer must allow Edwards and the child to live in the first floor unit pursuant to a 10-year lease at a reasonable market rate of rent. In addition, no gift if equity will be made by the Debtor to a successful higher offeror; the successful offeror must be prepared to pay the full amount of the counteroffer without taking into account the gift of equity. The case is In re Alexander Brown (Bankr. E.D. Mass. Case No. 11-12265). Counsel for the Debtor: David G. Baker, Esq. 236 Huntington Avenue, Room 306 Boston, MA 02115 Telephone: (617) 367-4260 ALPHA NURSING: Disclosures Don't Have Adequate Info, RehabCare Says ------------------------------------------------------------------- RehabCare Group East, Inc., dba RehabCare, filed with the U.S. Bankruptcy Court for the Western District of Texas an objection to Alpha Nursing & Therapy, LLC's disclosure statement dated June 22, 2017, referring to the Debtor's plan of reorganization. RehabCare obtained a judgment against Debtor in the U.S. District Court for the Western District of Texas on Jan. 11, 2017, in the amount of $226,292.05. RehabCare domesticated the Judgment in the Dallas County District Court and commenced garnishment proceedings seeking to collect on the Judgment. RehabCare served a writ of garnishment upon JPMorgan Chase Bank, N.A., and the Debtor via Dallas County Constable on Feb. 21, 2017. By operation of law, when the Garnishment was served on Chase, RehabCare became a secured creditor with a lien on the Debtor's deposit accounts with Chase. The Debtor's schedules list a secured claim for RehabCare in the amount of $164,132.54 and indicate the claim of RehabCare is disputed. On May 8, 2017 the Court entered an agreed final order authorizing use of cash collateral which acknowledges RehabCare's secured claim against cash collateral and grants RehabCare replacement liens to the same extent and validity as existed on the Petition Date. On July 19, 2017, RehabCare filed a secured proof of claim on account of the Judgment and the Garnishment lien in the amount of $225,976.42 with the amount in the Debtor's account with Chase on the date of service of the Garnishment, $38,697.42, being the secured portion and $187,279.00 as the unsecured portion the proof of claim. RehadCare says that the Disclosure Statement: a. does not contain adequate information with respect to RehabCare's claim because it does not address RehabCare's secured claim of $38,697.42. Since RehabCare is classified only as unsecured, it appears the Debtor disputes that RehabCare has an allowed secured claim, but no detail is provided as to what the basis for the dispute is or how the Debtor will address the dispute; b. fails to provide adequate information because of the mischaracterization of the circumstances surrounding RehabCare's Garnishment and lien and the impact of the debt on the Debtor's bankruptcy filing. RehabCare disputes that there was improper or lack of notice of the Garnishment. The Garnishment action was served on the Debtor on Feb. 22, 2017, pursuant to Rule 663a of the Texas Rules of Civil Procedure allowing service by mail under Rule 21a. Tex. R. Civ. Pro. 663a and 21a. Chase was served with the Garnishment on Feb. 21, 2017, as acknowledged by Chase in the answer they filed in the Garnishment proceeding, a copy of which is attached to the proof of claim of RehabCare. Accordingly, the Debtor has no basis to assert there was no or improper notice of the Garnishment and it is misleading for the Debtor to imply to creditors that lack of notice may serve as a basis for the Debtor to challenge the Garnishment. If the Debtor intends to file an objection to RehabCare's proof of claim that fact is also absent from the Disclosure Statement as is any discussion of the cost of the dispute; and c. does not provide adequate information with respect to the amount of RehabCare's unsecured claim nor the amount of any unsecured claims in Class 5. The Disclosure Statement only provides that the Class 5 Claims will be paid 100% over 60 months, but no amounts of claims are provided nor even a complete list of claimants. Without providing a list of the unsecured claims and their amounts, creditors cannot judge the feasibility of the Plan and will therefore not have sufficient information to make a decision as to whether to vote on the Plan or not. Even if the Debtor has not made a final determination as to what claims are objectionable and what amounts may be ultimately allowed, at least there should be an estimate provided for purposes of judging feasibility. RehabCare complains that it appears misleading for the Debtor to state that the bankruptcy filing was caused by RehabCare's collection efforts or the Garnishment. Of the few details about the claims against the Debtor provided in the Disclosure Statement, one detail made clear elsewhere is that the Debtor owes the IRS $611,874.64, but that debt is not mentioned in regard to the reason for the bankruptcy filing. According to RehabCare, another detail relevant to the reason for the bankruptcy filing and also the feasibility of the Plan is the number of patients with the Debtor. The Patient Care Ombudsman's First Report indicates the Debtor had 2 patients on the Petition Date down from 39 patients in February 2017. There is no mention of the patient census in the Disclosure Statement and, since the Debtor's revenue is directly tied to their patient census, it would clearly be a factor relevant to the bankruptcy filing. The Disclosure Statement and Plan classify RehabCare as unsecured but do not provide an allowed or asserted amount for the RehabCare claim nor give any reason that RehabCare's secured claim is not provided for in the Plan, RehabCare claims. On page 6 of the Disclosure Statement, the Debtor states that "a garnishment on the Agency's bank account with improper/no notice to the Agency, caused the Agency to file Chapter 11." RehabCare adds that the Agency is not a defined term, but apparently refers to the Debtor in this case. In the paragraph following the statement, the Debtor states that the "Chapter 11 bankruptcy protection filing was made on March 24, 2017 in response to collection efforts by Rehabcare Group East, dba Rehabcare. " RehabCare disputes the Debtor's characterization that the garnishment was with improper or no notice and that it was the sole cause of the Debtor's bankruptcy filing. A full-text copy of the Objection is available at: http://bankrupt.com/misc/txwb17-50668-113.pdf RehabCare is represented by: Gregory M. Sudbury, Esq. Timothy York, Esq. QUILLING SELANDER LOWNDS, WINSLETT & MOSER, P.C. 2001 Bryan Street, Suite 1800 Dallas, Texas 75201 Tel: (214) 871-2100 Fax: (214) 871-2111 E-mail: gsudbury@qslwm.com tyork@qslwm.com -- and -- Of Counsel: Phillip A. Martin, Esq. Laura Brymer, Esq. FULTZ MADDOX DICKENS PLC 101 South Fifth Street, 27th Floor Louisville, Kentucky 40202 Tel: (502) 588-2000 Fax: (502) 588-2020 E-mail: pmartin@fmdlegal.com lbrymer@fmdlegal.com About Alpha Nursing Alpha Nursing & Therapy, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Tex. Case No. 17-50668) on March 24, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Johnny W. Thomas, Esq. Judy A. Robbins, the United States Trustee, appointed Thomas A. Mackey, PhD, APRN-BC, FAAN FAANP, as the Patient Care Ombudsman For Alpha Nursing & Therapy, LLC. ALSON ALSTON: District Ct. Upholds Dismissal of Bankruptcy Case ---------------------------------------------------------------- In the appeals case captioned ALSON ALSTON, Appellant, v. UNITED STATES TRUSTEE, Appellee, No. 1:17-cv-185 (M.D. Penn.), Alson Alston appealed the Dec. 27, 2016 order of dismissal issued by the now retired Honorable Mary D. France of the U.S. Bankruptcy Court for the Middle District of Pennsylvania, as well as her subsequent Jan. 18, 2017 order denying reconsideration of her dismissal. Alston filed a timely Notice of Appeal on Jan. 31, 2017. Upon further analysis, Judge John E. Jones, III of the U.S. District for the Middle District of Pennsylvania affirms both orders of the Bankruptcy Court. Judge Jones finds that the bankruptcy court afforded Alston considerable patience and understanding in his lengthy Chapter 11 petition. He was permitted to file more than ten Disclosure Statements and inadequate and untimely MORs for a two-year period before the court dismissed his petition -- after giving Alston notice and a hearing to present his case and attempt to show cause why the case should not be dismissed. Alston did not take heed of the many warnings that his Disclosure Statements were inadequate and was unable to sustain his petition under Chapter 11, the District Court opines. Accordingly, the District Court affirms the bankruptcy court's dismissal and denial of reinstatement. A full-text copy of Judge Jones' Memorandum dated August 9, 2017, is available at https://is.gd/eUOv7W from Leagle.com. United States Trustee, Trustee, represented by Anne K. Fiorenza -- Anne.Fiorenza@usdoj.gov -- Office of the United States Trustee & Robert J. Schneider -- robert.j.schneider@usdoj.gov -- DOJ, Office of United States Trustee. About Alson Alston Alson Alston -- dba Alston Business Consulting, dba Songhai City, LLC, dba Songhai Enterprises, LLC, dba Songhai City Entertainment, LLC, dba Songhai City Real Estate, LLC, dba Encore General Merchandise LLC, dba Encore General Store, dba Dragon Management Services, aka Al Alston -- is an individual who purchased various parcels of commercial or mixed-use (commercial and residential) real estate as a profit-making venture. In addition, the Debtor operated several businesses at several of those Properties. The Debtor filed a Chapter 11 Petition (Bankr. M.D. Pa. Case No. 14-03454) on July 28, 2014. ALTA MESA: S&P Puts B- CCR on Watch Pos. on Merger Agreement ------------------------------------------------------------ S&P Global Ratings placed its ratings, including its 'B-' corporate credit rating, on U.S.-based oil and gas exploration and production (E&P) company Alta Mesa Holdings L.P. on CreditWatch with positive implications. S&P said, "We also placed the 'B-' senior unsecured debt rating on CreditWatch with positive implications. The recovery rating on this debt remains '4', indicating our expectation of average (30%-50%; rounded estimate: 45%) recovery in the event of a default." Alta Mesa announced that it has entered into a definitive agreement with Silver Run Acquisition Corp. II (NASDAQ listed: SRUN) to combine with Kingfisher Midstream LLC. The CreditWatch placement on Alta Mesa reflects at least a 50% probability of a higher rating should this transaction close as currently proposed. S&P said, "We expect that the combined company's financial risk profile will improve from Alta Mesa's current level, in part due to the conversion of preferred equity (which we treat as 100% debt) to common equity at close of this transaction. Additionally, we would expect the company's liquidity position to materially improve as a result of this transaction. The combination is subject to approval from Silver Run's shareholders, and other customary closing conditions." AMG INTERNATIONAL: Wants to Use France Sport's Cash Until Aug. 23 ----------------------------------------------------------------- AMG International, Inc., asks for authorization from the U.S. Bankruptcy Court for the District of New Jersey to use up to $431,575.52 of cash collateral of France Sport, S.A., from Aug. 3, 2017, through Aug. 23, 2017, for purposes of funding payroll, rent, and insurance. France Sport, whom the Debtor owes at least $2,860,000, consents to the Debtor's use of cash collateral. The Debtor tells the Court that authorization for cash collateral use is necessary and critical to the Debtor's ongoing business operations, as well as for the preservation of asset and collateral value. The Debtor proposes adequate protection to France Sport, which includes: (a) continuing liens (same extent, validity and priority as of Petition Date and to a maximum of cash collateral used); (b) replacement liens, but only to the extent the Continuing Liens are not sufficient to protect against diminution in the value of the Pre-Petition Collateral; and (c) superpriority administrative claim in an amount necessary to otherwise protect against diminution in the value of the Pre-Petition Collateral in the event the Continuing Liens and Replacement Liens are not sufficient to protect against any diminution. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/njb17-25816-10.pdf About Freeman-CMA Freeman-CMA -- http://www.freeman-cma.com/-- is a designer, manufacturer, marketer and distributor of award and recognition products including trophy components, plastic and metal figures, resin awards, plastic and metal engraving stock, ribbons and medals, plaques, clocks, pen sets and executive gift items. The Company distributes one of the largest product lines in the awards and recognition industry throughout both the United States and Canada, as well as internationally. Pro-Spec filed a Chapter 11 petition (Bankr. D.N.J. Case No. 17-25816) on Aug. 3, 2017. The petition was signed by Jean-Francois Lefebvre, president. At the time of filing, the Debtor estimated $1 million to $10 million in assets and $1 million to $10 million in liabilities. The case is assigned to Judge Hon. John K. Sherwood and SEESE, P.A., is counsel to the Debtor. ANDERSON SHUMAKER: Seeks October 23 Plan Exclusivity Extension -------------------------------------------------------------- Anderson Shumaker Company files with the U.S. Bankruptcy Court for the Northern District of Illinois a second request, seeking an extension of its exclusive period to file a plan of reorganization and disclosure statement to October 23, 2017, and the exclusive period to solicit acceptances of the plan through December 27, 2017. A hearing will be held on August 22, 2017 at 9:30 a.m. to consider the Debtor's Second Motion for Exclusivity Extension. The Debtor tells the Court that it is still in the process of compiling financial information in connection with its plan of reorganization, and is continuing the process of negotiating with Associated Bank, its primary lender, and the Official Committee of Unsecured Creditors with a view towards a consensual plan of reorganization. The Debtor also claims that it continues to explore the possibility of a sale of assets or a refinancing of the Associated Bank debt, and therefore, is in need of additional time to file its plan of reorganization and disclosure statement. About Anderson Shumaker Based in Chicago, Illinois, Anderson Shumaker Company provides open die forgings and custom forgings in various shapes and finishes using stainless steel, aluminum, carbon steel and various grades of alloy steel. Anderson Shumaker filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 17-05206) on Feb. 23, 2017. The petition was signed by Richard J. Tribble, its chief executive officer. At the time of filing, the Debtor had $1 million to $10 million in estimated assets and $10 million to $50 million in estimated liabilities. The case is assigned to Judge Donald R Cassling. Scott R. Clar, Esq. and Brian P. Welch, Esq. at Crane, Heyman, Simon, Welch & Clar serve as counsel to the Debtor. RSM US LLP is the Debtor's accountant. U.S. Trustee Patrick S. Laying on March 9, 2017, appointed five creditors to serve on an official committee of unsecured creditors. The committee members are: (1) Electralloy, G.O. Carlson, Inc.; (2) Carlson Tool & Manufacturing Corp.; (3) Progressive Steel Treating, Inc.; (4) Haynes International, Inc.; and (5) Ellwood Group. Shelly A. DeRousse, Esq., Devon J. Eggert, Esq., Elizabeth L. Janczak, Esq., and Trinitee G. Green, Esq., at Freeborn & Peters LLP, serve as counsel to the Committee. ANDROS DEVELOPMENT: Exclusive Plan Filing Deadline Moved to Oct. 24 ------------------------------------------------------------------- The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the Southern District of Florida has extended, at the behest of Andros Development Corporation, the exclusive periods within which the Debtor may file a plan, through and including Oct. 24, 2017, and solicit acceptances to its plan, through and including Dec. 21, 2017. As reported by the Troubled Company Reporter on July 27, 2017, the Debtor asked the Court for the extension, saying that maintaining plan exclusivity would enable the Debtor to focus on completing its marketing efforts and the development of its plan without interference by competing plans. About Andros Development Corp. Based in Coral Gables, Florida, Andros Development Corp. owns a vacant lot located at 3560 Grand Ave Miami, Florida, valued at $818,750. Each of Julio C. Marrero and Orlando Benitez, Jr., owns a 45% equity stake in the Debtor. The other 10% is held by Phillip Muskat. Andros Development is an affiliate of Grand Abbaco Development of Village West Corp and Nassau Development of Village West, Corp., each of which filed for bankruptcy protection on March 27, 2016, and Oct. 2, 2015, respectively. Andros Development sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 17-13760) on March 28, 2017. The petition was signed by Phillip Muskat, officer and shareholder. At the time of the filing, the Debtor disclosed $1.64 million in assets and $5.53 million in liabilities. The case is assigned to Judge Laurel M. Isicoff. The Debtor has engaged Jeffrey Bast and the law firm of Bast Amron LLP as counsel. The Debtor has also hired Arthur Porosoff of Marcus & Millichap Real Estate Investment Services, Inc., and Lorenzo Perez, Jr., of Premier International Properties, Inc., to market and sell the property located at 3471 and 3560 Grand Avenue, Miami, Florida. ASSOCIATED THORACIC: Unsecureds to be Paid from Excess Cash Flow ---------------------------------------------------------------- Associated Thoracic & Cardiovascular Surgeons, Ltd., and Herman Pang filed with the U.S. Bankruptcy Court for the District of Arizona a joint disclosure statement in support of their proposed plan of reorganization. Class 1-S under the Plan consists of the Allowed Unsecured Claims of Creditors of ATCS. Class 1-S Creditors may elect (at their sole option) to be treated in accordance with Class 1-R or they will be treated in accordance with Class 1-S. Class 1-S Creditors will be paid a pro-rata share from ATCS' Excess Cash Flow, on a semi-annual basis (with payments to be sent out for the prior half-year by February 15 and August 15), after all senior Allowed Claims (including Class 1-R) have been paid in accordance with the terms of the Plan, until the Allowed Unsecured Claims have been paid in total the value of ATCS' liquidation equity as calculated in ATCS' Disclosure Statement. Class 2-M consists of the Allowed Unsecured Claims of Creditors of Pang. Class 2- M Creditors may elect (at their sole option) to be treated in accordance with Class 2-L, or they will be treated in accordance with Class 2-M. Class 2-M Creditors will be paid a pro-rata share from Pang's Excess Cash Flow, on a semi-annual basis (with payments to be sent out for the prior half-year by Feb. 15 and August 15), after all senior Allowed Claims (including Class 2-L) have been paid in accordance with the terms of the Plan, until the Allowed Unsecured Claim have been paid in total the value of Pang's liquidation equity as calculated in Pang's Disclosure Statement. Pang's Plan will be funded by Pang's postpetition earnings and Excess Cash Flow. Pang will continue to be an employee of ATCS and perform the day to day operations of ATCS and for that, Pang will be paid the same salary going forward as he received in the past. ATCS' plan will be funded by its operations and Excess Cash Flow and the infusion of cash from its new owner. The Reorganized Debtors will act as the Disbursing Agent under the Plan. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/azb2-16-11909-363.pdf About Associated Thoracic Associated Thoracic & Cardiovascular Surgeons, Ltd., filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 16-11909) on Oct. 14, 2016, estimating $500,000 to $1 million and liabilities at $1 million to $10 million. The petition was signed by Herman Pang, president. Mr. Pang commenced his own Chapter 11 case (Bankr. D. Ariz. Case No. 16-11910) on Oct. 17, 2016. The cases are jointly administered and are assigned to Judge Brenda K. Martin. The Debtors are represented by Lamar D. Hawkins, Esq., at Aiken Schenk Hawkins & Ricciardi, P.C. AUTUMN COVE: Latest Plan Discloses More Info on Plan Funding ------------------------------------------------------------ Autumn Cove Apartments, LLC, filed its latest joint Chapter 11 plan, which provides additional information related to the funding of the plan. According to the latest plan, the company and its affiliates have already started and will continue to rehabilitate the 134-unit apartment complex owned by the Shannon Woods Apartments, LLC located at 100 Sunrise Court, Union City, Georgia. On the effective date of the plan, Bernardo Kohn, owner of BM Georgia Properties LLC, will deposit with the companies $150,000 to be applied to the budget for the rehabilitation. The deposit is a capital contribution and not a loan, which will be used solely in accordance with the budget. It will be held in a segregated account. The liens and security interests of COMM 2014-LC17 Georgia Properties, LLC will attach to the funds in the account, and disbursements from the account will be governed by the terms and conditions agreed upon by the companies and COMM-2014. Payments under the plan will be made from net rental collections after payment of operating expenses and the rehabilitation budget. Claims for professional fees will be paid, upon allowance, by a contribution by or on behalf of Mr. Kohn equal to the difference between the allowed fees and the pre-bankruptcy retainer. Any allowed amount over and above such contribution and application of the retainer will be paid from rentals at a rate to be agreed upon between the companies and their counsel, according to the latest disclosure statement filed on August 8 with the U.S. Bankruptcy Court for the Northern District of Georgia. A copy of the disclosure statement for the first amended Chapter 11 plan is available for free at https://is.gd/y6UW8W About Autumn Cove Apartments Autumn Cove Apartments, LLC (Bankr. N.D. Ga. 16-71783); Oakley Woods Apartments, LLC (Bankr. N.D. Ga. Case No. 16-71787); Pine Knoll Apartments, LLC filed its Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-71788); and Garden Gate Apartments, LLC (Bankr. N.D. Ga. Case No. 16-12455) filed bankruptcy petitions on Dec. 5, 2016. Affiliate Shannon Woods Apartments, LLC filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-71790) on Dec. 6, 2016. The petitions were signed by Mike Kohn, manager, STOWA Member, LLC. At the time of filing, each of the Debtors estimated assets at $1 million to $10 million, and liabilities at $10 million to $50 million. The Debtors are represented by Frank G. Nason, IV, Esq., at Lamberth, Cifelli, Ellis & Nason, P.A. No creditors' committee, trustee or examiner has been appointed. Autumn Cove Apartments, LLC, is based in 6200 Hillandale Drive, Lithonia, GA., and is a single asset real estate business. On June 2, 2017, the Debtors filed a disclosure statement, which explains their proposed Chapter 11 plan. AVAYA INC: Reports Financial Results for Fiscal Qtr. Ended June 30 ------------------------------------------------------------------ Avaya Inc. reported financial results for the third fiscal quarter ended June 30, 2017. Total revenue for the third quarter was $803 million, down $1 million compared to the prior quarter and down $79 million year-over-year primarily as a result of lower demand for products and services primarily due to extended procurement cycles resulting from the chapter 11 filing. Non-GAAP gross margin was 61.6%, which compares to 60.6% for the prior quarter and 62.4% for the third quarter of fiscal 2016. GAAP operating loss was $44 million, inclusive of $52 million of goodwill impairment and $53 million of costs in connection with certain legal matters, which compares to operating income of $64 million for the prior quarter and $58 million for the third quarter of fiscal 2016. Non-GAAP operating income was $156 million which compares to $148 million for the prior quarter and $180 million for the third quarter of fiscal 2016. For the third quarter, adjusted EBITDA(1) was $204 million or 25.4% of revenue, a record percentage of revenue for a third fiscal quarter, and compares to adjusted EBITDA of $199 million for the prior quarter and $223 million for the third quarter of fiscal 2016. Cash provided by operating activities was $72 million for the third fiscal quarter 2017, compared to $97 million during the second fiscal quarter 2017 and $23 cash used from operations during the third fiscal quarter 2016. Cash and cash equivalents totaled $729 million as of June 30, 2017. "The support of our amended Plan of Reorganization by a majority of holders of our first lien debt and the settlement reached with the U.S. Pension Benefit Guaranty Corporation gives us a clear and viable path to emerge from chapter 11 this fall," said Kevin Kennedy, president and CEO. "As we work through our debt restructuring, Avaya continues to transform into a leading provider of software and services focused on delivering cloud-based business communications and innovative next-generation workflow automation solutions with world-class customer satisfaction. In addition, we continue to build momentum with our newest generation of solutions including Avaya Oceana(TM), Avaya Equinox(TM), Avaya Breeze(TM), Zang(TM) Office and Zang Spaces," continued Mr. Kennedy. Third Fiscal Quarter Highlights -- Filed an amended plan of reorganization, with emergence from chapter 11 expected this fall -- Signed over 2,400 major customer contracts since filing for chapter 11 through June 30, 2017 -- Over 3,000 attendees at Avaya Engage Mexico and an additional 3,700 watched via live streaming -- Closed on sale of the Networking business to Extreme Networks on July 14 -- Total bookings for the third fiscal quarter increased 3% from the prior quarter and were 12% below the prior year in constant currency, reflecting extended procurement cycles resulting from the chapter 11 filing -- Software and services accounted for approximately 79% of total revenue in third quarter 2017 -- Recurring revenue represented 58% of total revenue, a company record, up from 55% year-over-year, in constant currency -- Net Promoter Score of 49 for customer satisfaction driven by industry-leading service and support -- Product revenue of $345 million decreased 1% from the prior quarter and 13% year-over-year, service revenue of $458 million was slightly higher sequentially and decreased 5% year-over-year, each in constant currency -- For the third fiscal quarter, percentage of revenue by geography was: U.S. - 54% EMEA - 25% Asia-Pacific - 11% Americas International - 10% Accompanying slides Links to this financial results press release and accompanying slides are available on the investor page of Avaya's website (www.avaya.com/investors). About Avaya Inc. Avaya Inc., together with its affiliates, is a multinational company that provides communications products and services, including, telephone communications, internet telephony, wireless data communications, real-time video collaboration, contact centers, and customer relationship software to companies of various sizes. The Avaya Enterprise serves over 200,000 customers, consisting of multinational enterprises, small- and medium-sized businesses, and 911 services as well as government organizations operating in a diverse range of industries. It has approximately 9,700 employees worldwide as of Dec. 31, 2016. Avaya Inc. and 17 of its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-10089) on Jan. 19, 2017. The petitions were signed by Eric S. Koza, CFA, chief restructuring officer. Judge Stuart M. Bernstein presides over the cases. The Debtors have hired Kirkland & Ellis LLP as legal counsel; Centerview Partners LLC as investment banker; Zolfo Cooper LLC as restructuring advisor; PricewaterhouseCoopers LLP as auditor; KPMG LLP as tax and accountancy advisor; and The Siegfried Group, LLP as financial services consultant. Prime Clerk LLC is their claims and noticing agent. On Jan. 31, 2017, the U.S. Trustee for Region 2, appointed an official committee of unsecured creditors. Morrison & Foerster is the creditors committee's counsel. Stroock & Stroock & Lavan LLP and Rothschild, Inc., serve as advisors to an ad hoc group -- Ad Hoc Crossholder Group -- comprised of holders of the Company's (i) 33.98% of the $3.235 billion total amount outstanding under loans issued pursuant to a Third Amended and Restated Credit Agreement, amended and restated as of December 12, 2012 (the "Prepetition Cash Flow Term Loans"); (ii) 28.38% of the $1.009 billion total principal amount outstanding under notes issued pursuant to an indenture for the 7.00% Senior Secured Notes Due 2019 (the "7.00% First Lien Notes"); (iii) 12.82% of the $290 million total principal amount outstanding under notes issued pursuant to an indenture for 9.00% Senior Secured Notes Due 2019 (the "9.00% First Lien Notes"); (iv) 83.70% of the $1.384 billion total amount outstanding under notes issued pursuant to an indenture for 10.5% Senior Secured Notes Due 2021 (the "Second Lien Notes"); and (v) 24% of the $725 million outstanding under loans issued under the Debtors' debtor-in-possession financing (the "DIP Facility") pursuant to a Superpriority Secured Debtor-In-Possession Credit Agreement, dated as of Jan. 24, 2017. BADLANDS ENERGY: Badlands Production Selling All Assets for $5M --------------------------------------------------------------- Badlands Production Co., asks the U.S. Bankruptcy Court for the District of Colorado to authorize its Purchase and Sale Agreement, dated as of Aug. 7, 2017, with in connection with Wapiti Newco, L.L.C. its sale of substantially all assets for $5 million and the assumption of specified liabilities and obligations of the Debtor, subject to overbid. Badlands Energy, Inc., is the 100% member of its subsidiary debtor affiliates. The Debtor is an approximate 35% working interest owner and operator of Debtors' Riverbend Project. Driven by current market conditions, the Debtors' liquidity constraints have prevented them from increasing their oil and gas production and proved productive reserves. Continuation of their business without new capital would diminish the value of their assets. Accordingly, a sale or sales of substantially all of the Debtors' assets to the highest or best bidder(s) is in the best interests of their estates and creditors. Earlier this year, the Debtors retained Parkman Whaling, LLC ("PW") as investment bankers in connection with restructuring, and a potential sale, merger, or other disposition of all or a portion of the Debtors and their assets. The Debtors and PW canvassed interested parties, solicited bids, and assisted interested buyers in completing initial due diligence toward a sale. The Debtors' marketing efforts have borne fruit. Specifically, the Debtor and the Stalking Horse Bidder have entered into the Agreement, whereby the Stalking Horse Bidder proposes to purchase substantially all of the Debtor's assets for a base Purchase Price of $5 million and the assumption of specified liabilities and obligations of the Debtor. The Debtor now asks authority to market-test the transactions contemplated by the Stalking Horse Purchase Agreement to ensure that it obtains the highest or otherwise best offer or combination of offers for its assets. Pursuant to the Debtors' pending DIP Financing Motion, they are required to expeditiously move toward a number of sale milestones. The sale milestones are structured to allow for their sale of substantially all of their assets to be closed by Oct. 5, 2017. Contemporaneously with the Motion, the Debtor has filed its Bid Procedures Motion. The Motion and the Bid Procedures Motion are intended to govern the expedited sale process for the Property required by the DIP Financing and the Stalking Horse Purchase Agreement to ensure an orderly market-based result. The key terms and conditions of the Stalking Horse Purchase Agreement are: a. Seller: Badlands Production Co. b. Purchaser: Wapiti Newco, L.L.C. c. Purchase Price: $5 million cash and the assumption of the Buyer's Assumed Obligations. d. Deposit: $500,000 cash e. Adjustment Items: Title defects, casualty losses, preferential purchase rights exercised, suspended funds required to be held, cure amounts paid by Buyer in excess of those scheduled by the Seller. f. Breakup Fee: $200,000 g. Expense Reimbursement: up to $100,000 h. Property: Substantially all assets of the Debtor i. Representations and Warranties: Customary representations and warranties by the Debtor and the Stalking Horse Bidder j. Closing: Oct. 5, 2017, k. Requested Findings as to Successor Liability: Free and clear of all liens, claims, rights, interests, charges, and encumbrances l. Relief from Bankruptcy Rules 6004(h) and 6006(d): The Debtor has requested a waiver of the 14-day stays under Bankruptcy Rules 6004(h) and 6006(d). A copy of the Staking Horse Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/Badlands_Energy_18_Sales.pdf To facilitate and effectuate the sale of the Property, the Debtor asks authority to assign or transfer the Assumed Contracts to the Stalking Horse Bidder or other Successful Bidder arising from the Auction, if any, to the extent required by such bidders. To maximize the value received for the Property, the Debtor asks to close the Sale as soon as possible after the Sale Hearing. Accordingly, it asks that the Court waives the 14-day stay period under Bankruptcy Rules 6004(h) and 6006(d). The Purchaser: WAPITI NEWCO, L.L.C. 800 Gessner, Suite 1100 Houston, TX17024 Attn: Bart Agee E-mail : bagee@wapitienergY.com The Purchaser is represented by: DIAMOND MCCARTHY LLP Attn: KyLurg S. Lee and Charles M. Rubio 909 FannIn Street, 37th Floor Hottston, TX 77010 E-mail: klee@diamondmccarthY.com; crubio@diamondmccarthy.com About Badlands Energy Denver-based Badlands Energy, Inc. -- http://badlandsenergy.framezart.com/-- is an E&P company that has been involved in the Uinta Basin for over a decade. The Company also operates in California and has been involved in exploration projects in Wyoming and Nevada. The Utah operations comprise the largest and most active acreage position in the Company with over 90,000 acres under lease. In addition to managing the leasehold, Badlands also operates some 140 oil and gas wells in the Riverbend, Wilkin Ridge and Gate Canyon areas. Currently the Company is engaged in a nine well pad drilling program in the Riverbend area that could expand into a much larger program in the future. Recently the Company entered into a joint venture with MC Oil and Wyatt Energy to exploit a 5,000+ leasehold (South Altamont) within the giant Altamont/Bluebell Field. The Company has completed its first oil well the South Altamont program that has resulted in a 30 day average of + 400 BOPD. Permitting for additional locations is underway. In California the Company is active in the San Joaquin Basin with over 34,000 acres under lease. Initially operating as a public company known as Gasco Energy, Inc., the Company underwent a restructuring that was completed in October of 2013. This resulted in a recapitalization followed by taking the company private. The final step in this was a name change to Badlands Energy, Inc. The Company is now sufficiently funded to aggressively pursue additional opportunities in addition to growing its current operating base. Badlands is staffed by a seasoned group of geoscientist, engineers and field operations people who have many years of experience not only in the Uinta Basin but also in North America and internationally and have expertise in seismic acquisition, drilling operations and all facets of the petroleum industry. The team has a long history of working together as partners or as part of the Gasco team. Much of that experience has been in the Altamont-Bluebell field complex with significant expertise in the drilling a completion of Green River and Wasatch wells. In addition, the team has been active in the development of Wasatch/Mesa Verde, Spring Canyon and Mancos gas wells. Badlands Energy, Inc., Badlands Production Co., Badlands Energy - Utah, LLC, and Myton Oilfield Rentals, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case Nos. 17-17465, 17-17467, 17-17469 and 17-17471) on Aug. 11, 2017. The petitions were signed by Richard Langdon, president and CEO. Badlands Energy estimated assets at $10 million to $50 million and liabilities at $50 million to $100 million; Badlands Production's assets at $1 million and $10 million and liabilities at $10 million to $50 million; Badlands Energy - Utah's assets at $1 million to $50 million; and Myton Oilfield Rentals' assets at $100,000 to $500,000 and liabilities at $10 million to $50 million. The cases are assigned to Judge Kimberley H. Tyson. The Debtors tapped Theodore J. Hartl, Esq., at Lindquist & Vennum LLP, in Denver, as counsel. BC ACQUISITIONS: To Pay Debts Through Property Sale --------------------------------------------------- BC Acquisitions, LLC, filed with the U.S. Bankruptcy Court for the Western District of Texas a third amended disclosure statement dated Aug. 7, 2017, referring to the Debtor's plan of reorganization. The Class 3 Creditors, to the extent that their claims are allowed will be paid in full, when the real property owned by the Debtor is sold. Furthermore, it is the intent of the Debtor to pursue its adversary proceeding against Jamie Tarpley, Barry Johnson, Jon Murphy, JFP Services, LLC, and Taylors International Services, Inc., in Adversary Proceeding No. 17-5002. It is anticipated that the Plaintiff will recover damages in that adversary proceeding and expressly, specifically, and unequivocally, retains its cause as contemplated by 11 U.S.C. Section 1123(b)(3). The Debtor will not be generating any income from the operation of the business. Currently, the doors have been closed based upon the decision made by the management of JFP Services, LLC, and Taylors International Services, Inc. The Debtor anticipates that from the sale of the property, there will be sufficient funds to pay all claims pursuant to the terms of the Plan. A full-text copy of the Third Amended Disclosure Statement is available at: http://bankrupt.com/misc/txwb16-52245-85.pdf As reported by the Troubled Company Reporter on June 14, 2017, the Debtor filed with the Court a disclosure statement, which explained its proposed plan to exit Chapter 11 protection. According to the filing, creditors holding allowed Class 3 unsecured claims would be paid in full when the real property owned by BC Acquisitions is sold. Moreover, the Debtor would pursue its adversary case (Case No. 17-5002) against JFP Services, LLC and four others. It was anticipated that the plaintiff will recover damages in the case, according to the disclosure statement filed on June 1. About BC Acquisitions, LLC BC Acquisitions, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 16-52245) on Oct. 3, 2016. The Debtor was engaged in the operation of a "man camp" in Carrizo Springs, Texas. After its bankruptcy filing, the Debtor has not continued the operation due to the downfall of the oil and gas industry in South Texas. The petition was signed by Allen Torans, Jr., managing member. The case is assigned to Judge Craig A. Gargotta. James Samuel Wilkins, Esq., at Willis & Wilkins, LLP, represents the Debtor as its bankruptcy counsel. The Debtor hired John M. Carr as accountant. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. On March 30, 2017, the Debtor filed a disclosure statement, which explains its proposed Chapter 11 plan of reorganization. BCC SANDUSKY: 4th Interim Cash Collateral Order Entered ------------------------------------------------------- The Hon. Mary Ann Whipple of the U.S. Bankruptcy Court for the Northwestern District of Ohio has entered a fourth agreed order extending BCC Sandusky Permanent LLC's cash collateral use through and including Aug. 20, 2017. The status quo order is extended a fourth time, through and including Aug. 20, 2017, modifying only the existing May 31, 2017 deadline of the Status Quo Order, with all other terms and conditions of the Status Quo Order remaining unchanged and in full force and effect through and including the Aug. 20, 2017 deadline. The cash collateral motion is adjourned to a future hearing date to be set by the Court. A copy of the court order is available at: http://bankrupt.com/misc/ohnb17-30905-159.pdf About BCC Sandusky Permanent LLC Based in Cincinnati, Ohio, BCC Sandusky Permanent LLC's business operation involves the lease of the structures and land on its real property known as the Crossings of Sandusky to the various retail-business establishments, which operate from the property. BCC Sandusky sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 17-30905) on March 30, 2017. The petition was signed by George W. Fels, co-manager. At the time of the filing, the Debtor estimated its assets and debt at $10 million to $50 million. The Chapter 11 case is assigned to Judge Mary Ann Whipple. The Debtor is represented by Steven L. Diller, Esq. and Eric R. Neumann, Esq., at Diller and Rice, LLC, and Raymond L. Beebe, Esq. at Raymond L. Beebe Co. On April 7, 2017, the Bankruptcy Court appointed NAI Daus as receiver for BCC Sandusky Permanent. The receiver hired Frost Brown Todd LLC as counsel. BEANERY 119: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- The Office of the U.S. Trustee on Aug. 17 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 cases of Beanery 119 LLC, Beanery Investment Group, and Boston Restaurants - PA, Inc. About Boston Hospitality Group Headquartered in Morgantown, West Virginia, Boston Hospitality Group Inc. is a privately-held company operating under the restaurants industry. The Boston Beanery concept was patterned after old Boston pubs from the 1800's, which at that time were called Beaneries. The company now has five Boston Beanery locations across West Virginia, Pennsylvania, and Virginia. Boston Hospitality, Beanery 119 LLC, Boston Restaurants - PA Inc., and Beanery Investment Group, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. W.Va. Case Nos. 17-00710 to 17-00713) on July 1, 2017. Patrick J. Padula, president, signed the petition. The cases are jointly administered. At the time of the filing, Boston Hospitality disclosed that it had estimated assets and liabilities of $1 million to $10 million. The Debtors hired Johnson Law LLC and J. Frederick Wiley, PLLC, as counsel. BISHOP GORMAN: Wants Plan Filing Deadline Extended to Oct. 2018 --------------------------------------------------------------- Bishop Gorman Development Corporation asks the U.S. Bankruptcy Court for the District of Nevada to extend the periods during which only the Debtor may file a Chapter 11 plan and solicit acceptances of the plan until Oct. 17, 2018, and Dec. 17, 2018, respectively. A copy of the Debtor's request is available at: http://bankrupt.com/misc/nvb17-11942-172.pdf The Debtor requests an extension of the Exclusive Filing Period to the earlier of 60 days after the Court enters a final court order adjudicating the claims raised in the adversary case involving J.A. Tiberti Construction, Inc. or Oct. 17, 2018, and an extension of the Exclusive Solicitation Period to the earlier of 120 days after the Court enters a final order adjudicating the claims raised in the JATCO Adversary or Dec. 17, 2018, without prejudice to the Debtor's right to seek further extensions if circumstances in the Chapter 11 case warrant and only to the extent otherwise permissible under Section 1121. The Debtor's initial exclusive filing period runs through and including Aug. 15, 2017, while the Debtor's exclusive solicitation period runs through and including Oct. 14, 2017. The Debtor says its request for an extension is narrowly tailored in that, in the first instance, it is linked expressly to the resolution of the JATCO Adversary. Issues of claims allowance and distribution priority as to JATCO's claims are squarely raised in the JATCO Adversary and must be resolved prior to the Debtor being in a position to propose and file a plan that meets all of the requirements for plan confirmation. According to the Debtor, resolution of the JATCO Adversary in favor of the Debtor and its estate will clear the path to the Debtor proposing and filing a confirmable Chapter 11 plan. As JATCO itself has observed, the Debtor needs to address JATCO's claim. The Debtor has started the process of doing so through the JATCO Adversary. The Debtor tells the Court that denial of its requested extension would amount to forfeiture or reduction of the Debtor's initial period of exclusivity and would reward JATCO's efforts to impermissibly elevate the distribution priority of its alleged claims at the expense of other holders of general unsecured claims. JATCO would have accomplished all of this without having to meet the heavy burden that is ordinarily assigned to a movant seeking to reduce a debtor's initial period of exclusivity. This is so because, although Section 1121(b) granted the Debtor an initial period of exclusivity in which the Debtor alone could propose and file a plan, JATCO's prepetition efforts to improve impermissibly its position relative to other general unsecured creditors in this case and to distort the U.S. Bankruptcy Code's prescribed distribution priorities in its favor has effectively deprived Debtor of the opportunity to do so as Congress mandated. According to the Debtor, tabling the issue of allowance of JATCO's claims for a moment, resolution of the distribution priority to which JATCO's claims would otherwise be entitled would be essential, therefore, to the Debtor's ability to satisfy the requirements of, among other confirmation requirements, 11 U.S.C. Sections 1122 and 1129(a)(1). Because this status, among other issues involving JATCO's claim, remains to be determined in the JATCO Adversary, the Debtor says it has been hamstrung in its efforts to propose and file a plan that meets all of the requirements Section 1129(a). The Debtor says JATCO's stated opposition to the Debtor's request for an extension of exclusivity amounts to nothing more than impermissible bootstrapping, pure and simple. JATCO's refusal to relinquish its alleged judgment liens obtained during the 90-day period immediately preceding the Debtor's bankruptcy case that are subject to avoidance in the JATCO Adversary under 11 U.S.C. Sections 547 and 549 has triggered the operation of 11 U.S.C. Section 502(d) which mandates disallowance of JATCO's claims in their entirety under this Circuit's governing law. According to the Debtor, JATCO's characterization of the result mandated by the plain meaning of Section 502(d) and the Ninth Circuit's authoritative construction of the same in America West Airlines, namely the disallowance of JATCO's claims in their entirety as part of the JATCO Adversary as a result of JATCO's refusal to relinquish its liens and other security interests that are avoidable under Sections 547 and 549, as "an absurd, irrational, and ultimately impossible result" is unfortunate. More problematic still is that JATCO's inclusion of the arguments as part of a claim-dispositive motion invites the Bankruptcy Court to commit reversible error without the benefit of any discussion at all by JATCO with respect to, or any effort on JATCO's part to distinguish, this controlling authority. The Debtor states that until the Bankruptcy Court determines the matters presented for adjudication as part of the JATCO Adversary, the Debtor will not be in a position to propose and file a plan of reorganization that meets all of the requirements of Section 1129(a). As alleged by the Debtor in the JATCO Adversary, the results of JATCO's race to the courthouse are avoidable under, among other provisions of the U.S. Bankruptcy Code, Sections 547 and 549, and JATCO's refusal to relinquish its avoidable transfers renders JATCO's claims in the Chapter 11 case subject to disallowance in their entirety by operation of Section 502(d). Either reclassification of JATCO's claims as general unsecured claims or the outright disallowance of JATCO's claims in their entirety by operation of Section 502(d) would clear the path for Debtor to propose a confirmable Chapter 11 plan of reorganization. As evidenced by its monthly operating reports, the Debtor has been meeting its ongoing obligations as they come due, therefore, this factor weighs in favor of granting the instant motion, Bishop Gorman says. The Debtor asserts it is an active and effective debtor in possession entitled to retain control over the reorganization process. The Debtor is also timely sharing information with creditors through its monthly operating reports, cash collateral budgets, and filed schedules and statement of financial affairs, both original and amended. About Bishop Gorman Development Corporation Bishop Gorman Development Corporation is a charitable organization with its principal assets located at 5959 S. Hualapai Way, Las Vegas, Nevada. Bishop Gorman Development filed for Chapter 11 bankruptcy protection (Bankr. D. Nev. Case No. 17-11942) on April 17, 2017, estimating assets and liabilities between $100 million and $500 million each. Deacon Aruna Silva, executive director, signed the petition. Judge August B. Landis presides over the case. Brett A. Axelrod, Esq., at Fox Rothschild LLP serves as the Debtor's bankruptcy counsel. The Debtor hired Greenberg Traurig, LLP, as its special litigation counsel, and Wallace Neumann & Verville, LLP, as its accountant. BOWLIN FUNERAL: Taps Boul & Associates as Legal Counsel ------------------------------------------------------- Bowlin Funeral Home, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Missouri to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to employ Boul & Associates, P.C. to, among other things, give legal advice regarding its duties under the Bankruptcy Code; take actions to prevent the foreclosure of liens against its property; and assist in the preparation of a plan of reorganization. Harry Boul, Esq., and Shelley Forrest, Esq., the attorneys who will be handling the case, will charge an hourly fee of $250. The firm will be employed under a general retainer of $15,000. Mr. Boul disclosed in a court filing that he and his firm do not represent any interest adverse to the Debtor or its estate. Boul & Associates can be reached through: Harry D. Boul, Esq. Boul & Associates, P.C. One E. Broadway, Suite B Columbia, MO 65203 Phone: 573-443-7000 Email: hboul@earthlink.net About Bowlin Funeral Home Inc. Bowlin Funeral Home, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 17-20736) on July 21, 2017. Mark R. Elliott, Jr., the sole owner and shareholder, signed the petition. At the time of the filing, the Debtor disclosed that it had estimated assets and liabilities of less than $1 million. Judge Dennis R. Dow presides over the case. BRISTLECONE INC: Motion for OK to Obtain DIP Financing Denied ------------------------------------------------------------- The Hon. Bruce T. Beesley of the U.S. Bankruptcy Court for the District of Nevada has denied Bristlecone, Inc., et al.'s motion for authorization to obtain debtor-in-possession financing. The Debtors' motion is denied, without prejudice to FRS BC, LLC's right to file a claim for postpetition financing provided to the Debtors and a motion for allowance of the claim as an administrative expense in these Chapter 11 cases. A copy of the Order is available at: http://bankrupt.com/misc/nvb17-50472-204.pdf As reported by the Troubled Company Reporter on July 21, 2017, the Debtors sought court permission to obtain postpetition financing of up to $150,000 from FRS BC, under a loan agreement and security agreement and revolving line of credit promissory note. The Debtors determined that the DIP Facility is necessary to continue to operate their business and for a successful reorganization. To ensure uninterrupted business operations of the debtors, the Debtors concluded that obtaining the postpetition financing is necessary and in the best interest of the Debtors to bridge their ongoing business operations until the time as they can sell certain assets or obtain confirmation of their plans. About Bristlecone, Inc. Bristlecone, Inc. -- http://bristleconeholdings.com/-- develops financial technologies to help businesses evaluate consumer creditworthiness. Bristlecone uses the software to look at leading indicators, like bank accounts, social data, and public records to develop algorithms to make decisions before lending money. It develops software to lend directly to consumers and small businesses. It was founded in 2013 and is headquartered in Reno, Nevada. Bristlecone, Inc., and seven of its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case Nos. 17-50472 to 17-50476 and 17-50478 to 17-50480) on April 18, 2017. The petitions were signed by Brandon Kyle Ferguson, president and CEO. The seven debtor-affiliates are Boonfi LLC, Bristlecone Lending LLC, Bristolecone SPV I LLC, I Do Lending LLC, Medly LLC, One Road Lending LLC and Wags Lending LLC. Bristlecone, Inc., estimated its assets and liabilities at $10 million to $50 million. The Debtors' cases are assigned to Judge Bruce T. Beesley. Stephen R. Harris, Esq., at Harris Law Practice LLC, is the Debtors' counsel. CAPRI COAST: Taps Lewis Landau as New Legal Counsel --------------------------------------------------- Capri Coast Capital, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire a new legal counsel. In its application, Capri Coast proposes to hire Lewis Landau, Esq., to provide legal services to the company and its affiliates in connection with their Chapter 11 cases. Mr. Landau will replace the Law Office of Peter C. Bronstein. The proposed attorney will charge an hourly fee of $495 for his services. Mr. Landau does not hold any interest adverse to the Debtors' estates or creditors, and is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. Mr. Landau maintains an office at: Lewis R. Landau, Esq. 22287 Mulholland Highway, Suite 318 Calabasas, CA 91302 Voice and Fax: (888)822-4340 Email: Lew@Landaunet.com About Capri Coast Capital Inc. Capri Coast Capital, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 17-11136) on April 28, 2017. Erika Rice, its chief executive officer, signed the petition. On June 9, 2017, Hampton Heights Inc. and Ravello Ventures Inc., filed Chapter 11 petitions (Bankr. C.D. Cal. Case Nos. 17-11545 and 17-11546). Another affiliate Amalfi Assets, Inc. filed for Chapter 11 protection (Bankr. C.D. Cal. Case No. 17-11851) on July 12, 2017. The cases are jointly administered with that of Capri Coast under Case No. 17-11136. Capri Coast has hired Lewis Landau, Esq., as counsel, replacing the Law Office of Peter C. Bronstein. At the time of the filing, the Debtors disclosed these assets and liabilities: Capri Coast listed under $50,000 in assets and under $500,000 in liabilities. Hampton Heights listed under $50,000 in both assets and liabilities. Ravello Ventures listed under $500,000 in both assets and liabilities. Amalfi Assets listed between $1 million and $10 million in assets, and between $500,000 and $1 million in liabilities. CARE CAPITAL: S&P Withdraws BB+ CCR Following Merger With Sabra --------------------------------------------------------------- S&P Global Ratings affirmed its ratings on skilled nursing-focused REIT Care Capital Properties Inc., including its corporate credit rating of 'BB+'. The outlook is stable. S&P said, "We subsequently withdrew the corporate credit rating following the assumption of the senior unsecured notes by Sabra Health Care REIT Inc. "Sabra (BB+/Stable/--) recently acquired Care Capital. We affirmed the ratings on Care Capital as the combined company boasts improved scale, tenant diversification, and cost synergies, offset by modestly weaker credit protection measures." CARL MERKLE: Pilgrim, CCSC Allowed to Recover Attorney's Fees ------------------------------------------------------------- On June 20 and 21, 2017, came on for hearing Pilgrim REO, LLC and Party-in-Interest Capital Crossing Servicing Company, LLC's Motion for Approval of Default Interest, Costs, Expenses, and Attorneys' Fees. The Debtor filed an Objection and Response on June 19, 2017. Respondents filed their Reply on July 19, 2017. The Debtor and Pilgrim each appeared through counsel and presented argument. After considering the arguments made and evidence presented, and the file and record in the case, Judge Craig A. Gargotta of the U.S. Bankruptcy Court for the Western District of Texas finds that the Motion allowing Respondents attorneys' fees is granted in part, and, denied in part. The Debtor argues generally that the Respondents are not entitled to recover the attorneys' fees requested because they were not reasonable or necessary. The Court finds that the debtor does not point to specific examples of overbilling other than to suggest that counsels' fees should be similar to the commission awarded the substitute trustee in In re 804 Congress, L.L.C. The Court finds that this case and In re 804 Congress, L.L.C. are factually and legally distinct. The Debtor has not cited specific examples where pre-petition work was not performed or that the amount of time was extensive. The amount claimed for pre-petition fees is approximately $12,000 less than what is reflected on the invoices. This difference is more than adequate to ensure that Debtor is not paying for work performed in connection with transfers that were unrelated to collection, and is a significant discount to the fees actually incurred. Additionally, the earliest pre-petition invoices are from 2014, so the amounts claimed do not reflect any work performed in connection with unilateral transfers that were not related to collection. The uncontroverted testimony at trial was that the 2015 transfer from Pilgrim Trust to Pilgrim REO was related to collection, therefore, the attorneys' fees incurred in connection with that transfer are recoverable under the terms of the Loan Documents. Thus, the pre-petition fees requested in Claim No. 6 (as amended), and as substantiated at trial, should be allowed. As such, as to the issue of the reasonableness of the pre-petition fees, Debtor's objection fails. The Debtor has also claimed his attorneys' fees as damages. The Court finds that, as a matter of law, Debtor is not entitled to recover any attorneys' fees against the Respondents. Debtor sought to recover his attorneys' fees incurred in connection with the bankruptcy case. The only statutory basis for recovery that Debtor has articulated is Chapter 38 of the Texas Civil Practice and Remedies Code. Section 38.001(8) of the Texas Civil Practice and Remedies Code provides for the recovery of attorneys' fees incurred in relation to a claim on a written contract. For the reasons stated, the Court ordered that Respondents' attorneys' fees and expenses are allowed but for the fees and expenses of Winstead PC and estimated fees for L&B for July 2017. The Court calculates the Respondents' attorneys' fees and expenses as follows: Respondents' attorneys' fees and expenses of $98,236.76, per proof of claim 6-3, less Winstead PC attorneys' fees of $10,131.12 and expenses of $1,360.37 for a total of $86,745.27. In addition, per Exhibit A of Respondents' Motion, attorneys' fees of $48,247.20 and expenses of $4,210.03 for June 2017 are allowed for a total of $52,457.23. Further, per Exhibit B of Respondents Motion, attorneys' fees of $2,947.50 and expenses of $614.61 for July 2017 are allowed for a total of $3,562.11. Respondents' claim for attorneys' fees and expenses is allowed in the total amount of $142,764.61. All other relief requested is denied. The bankruptcy case is In re: CARL N. MERKLE, Chapter 11, Debtor, Case No. 16-50026-CAG (Bankr. W.D. Tex.). A full-text copy of Judge Gargotta's Order dated August 15, 2017, is available at https://is.gd/q1vDLC from Leagle.com. Carl N Merkle, Debtor, represented by Ricardo Guerra, The Law Offices of Rick Guerra. About Carl Merkle Carl N. Merkle is a licensed CPA who presently works in the Non-profit affordable housing industry as an assistant controller. In addition to his accounting work, the Debtor owns and operates Northeast Village Apartments, which is the driving force behind his Chapter 11 case. The Debtor's only residence is the Northeast Village Apartments and he has resided there since April 2012. Carl N. Merkle filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tex. Case No. 16-50026) on Jan. 4, 2016. Ronald J. Smeberg, Esq., of The Smeberg Law Firm, PLLC, represents the Debtor. CAROLINA MOLD: May Use Cash Collateral Until Sept. 26 ----------------------------------------------------- The Hon. Benjamin Kahn of the U.S. Bankruptcy Court for the Middle District of North Carolina has entered a fifth interim cash collateral order, authorizing Carolina Mold & Machining, Inc., to use cash collateral until Sept. 26, 2017. A further hearing on the cash collateral use and any objections and responses will be held at 9:30 a.m. on Sept. 26, 2017. To the extent the Debtor uses the cash collateral of Patsy Marion, the creditor is granted a postpetition replacement lien in the Debtor's postpetition property of the same type which secured the indebtedness of Patsy Marion prepetition, with the liens having the same validity, priority, and enforceability as Patsy Marion had against the same type of such collateral as of the Petition Date. The postpetition liens and security interests provided for will be subordinate to Trailing Expenses and will survive the term of this court order to the extent the prepetition lien was valid, perfected, enforceable, and non-avoidable as of the Petition Date. To the extent the Debtor uses the cash collateral of Direct Capital, the creditor is granted a postpetition replacement lien in the Debtor's postpetition property of the same type which secured the indebtedness of Direct Capital prepetition, with liens having the same validity, priority, and enforceability as Direct Capital had against the same type of such collateral as of the Petition Date. The postpetition liens and security interests provided for will be subordinate to Trailing Expenses and will survive the term of this court order to the extent the prepetition lien was valid, perfected, enforceable, and non-avoidable as of the Petition Date. During the Usage Period the Debtor will make monthly adequate protection payments to Direct Capital in the amount of $1,400, with the first payment due on or before March 20, 2017. Subsequent payments would be due on the same day of each month thereafter during the Usage Period. The adequate protection payments will be applied as provided in the Promissory Note. Direct Capital will be allowed $4,000 in allowed expenses pursuant to 11 U.S.C. Sec. 506(b). That amount will be added to the claim and will cover all attorney fees incurred, or to be incurred, except any actions pursuant to objections to the confirmation of the plan of reorganization. To the extent the Debtor uses the cash collateral of the IRS, the IRS is granted a post-petition replacement lien in the Debtor's postpetition property of the same type which secured the indebtedness of the IRS prepetition, with liens having the same validity, priority, and enforceability as the IRS had against the same type of the collateral as of the Petition Date. The postpetition liens and security interests provided for will be subordinate to Trailing Expenses and will survive the term of this court order to the extent the prepetition lien was valid, perfected, enforceable, and non-avoidable as of the Petition Date. During the Usage Period the Debtor will make monthly adequate protection payments to the IRS in the amount of $5,500 payments are due on the 1st day of each month during the Usage Period. As additional adequate protection, the Debtor will keep all of the Debtor's personal property insured for no less than the amounts of the prepetition insurance. The Debtor will timely pay all insurance premiums related to any and all of the collateral. A copy of the Order is available at: http://bankrupt.com/misc/ncmb17-10001-82.pdf About Carolina Mold & Machining Carolina Mold and Machining was founded in 1994 by Rodney Marion and James Hoague. Originally Carolina Mold was a mold manufacturer, mold repair and mold modification facility. As the industry changed, most new molds are being built offshore. As such the business has changed to mostly service repairs and engineering changes, while still manufacturing some new molds. The company's financial situation stems from Rodney Marion turning over the day to day operations of the business to his son. This has caused the Company to fall significantly behind on taxes due to the Internal Revenue Service. Rodney Marion is currently in charge of all operations and as such the business is improving to the point necessary to be profitable. Carolina Mold & Machining, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 17-10001) on Jan. 1, 2017. Rodney Marion, president, signed the petition. The Debtor disclosed $660,978 in assets and $1.48 million in liabilities. The Debtor is represented by Dirk W. Siegmund, Esq., at Ivey, McClellan, Gatton & Siegmund, LLP. No official committee of unsecured creditors has been appointed in the case. CEE HOTEL: Taps Callins Law Firm as Legal Counsel ------------------------------------------------- CEE Hotel Management LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to hire legal counsel. The Debtor proposes to employ The Callins Law Firm, LLC to give legal advice regarding its duties under the Bankruptcy Code and provide other legal services related to its Chapter 11 case. The firm will charge an hourly fee of $215 for its services. Joel A.J. Callins, Esq., disclosed in a court filing that his firm is "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Joel A.J. Callins, Esq. The Callins Law Firm, LLC 101 Marietta Street, Suite 1030 Atlanta, GA 30303 Tel: (404) 681-582 Fax: (866) 299-4338 Email: jcallins@callins.com About CEE Hotel Management LLC CEE Hotel Management LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No. 17-51642) on August 1, 2017. Edward Grant and Cheryl Louder, the organizers, signed the petition. At the time of the filing, the Debtor disclosed that it had estimated assets and liabilities of less than $1 million. CHALMERS AUTOMOTIVE: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------- The Office of the U.S. Trustee on Aug. 17 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Chalmers Automotive, LLC. About Chalmers Automotive, LLC Founded in 2009, Chalmers Automotive, LLC's -- https://chalmersautomotive.com/ -- line of business includes the manufacturing or assembling of complete passenger automobiles. Chalmers Automotive specializes in creating the best Luxury Custom Mercedes Benz Sprinter Van Conversions available today. In particular the Company customizes Luxury Custom Mercedes Benz Sprinter Vans to any specifications, for any purpose, while using the highest quality materials available. The Company posted gross revenue of $3.48 million for 2016 and gross revenue of $6.94 million for 2015. Chalmers Automotive LLC, based in North Kansas City, MO, filed a Chapter 11 petition (Bankr. W.D. Mo. Case No. 17-41924) on July 19, 2017. The Hon. Cynthia A. Norton presides over the case. Colin N. Gotham, Esq., at Evans & Mullinix, P.A., serves as bankruptcy counsel. In its petition, the Debtor estimated $500,368 in assets and $2.35 million in liabilities. The petition was signed by Albert J. Chalmers, Jr., member. CHARIOTS OF PALM: Hires Michael Phelan as CRO --------------------------------------------- Chariots of Palm Beach, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of Florida to employ Michael Phelan of Michael Moecker & Associates, as chief operating officer to the Debtor. Chariots of Palm Beach requires Michael Moecker to: a. assist the Debtor with short and long term cash flow projections and analysis as necessary for the Bankruptcy Courts, if necessary; b. assist the Debtor with the preparation of financial and operational reporting requirements as required by the Bankruptcy Court, if needed; c. serve as the principal contact with the Debtor's creditors with respect to the Debtor's financial and operational matters; d. assist the Debtor with formulating a plan of reorganization and associated filings if needed; e. assist the Debtor with securing necessary financing including potential debtor-in-possession financing, as well as necessary financing to fulfill requirements under any plan of reorganization and emerge from bankruptcy protection; f. assist the Debtor with the sale of assets as necessary to maximize the value of the estate; g. perform such other services as requested or directed by the Debtor's counsel, and the Debtor's management team; and h. provide court testimony, as required. Michael Moecker will be paid at these hourly rates: CRO $350 Staff $175-$250 Upon a restructuring of the Debtor's debt, Michael Moecker will receive a success fee of 5% of the amount of debt restructured. Michael Moecker will be paid a retainer in the amount of $30,000. Michael Moecker will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Phelan, executive president and chief operating officer of Michael Moecker & Associates, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Michael Moecker can be reached at: Michael Phelan MICHAEL MOECKER & ASSOCIATES 1883 Marina Mile Blvd., Suite 106 Tel: (954) 252-1560 Fax: (954) 252-2791 About Chariots of Palm Beach, Inc. Chariots of Palm Beach -- http://www.chariotsofpb.com/-- is an exclusive dealer of luxury cars, both used and new. The Company also offers for rent luxury automobiles. Based in West Palm Beach, Florida, Chariots of Palm Beach filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-19455) on July 27, 2017. The petition was signed by Charles Sharoubim, president. The Hon. Paul G. Hyman, Jr. presides over the case. Steven S Newburgh, Esq. at McLaughlin & Stern, LLP represents the Debtor as counsel. At the time of filing, the Debtor estimates $1 million to $10 million in total assets and $10 million to $50 million in total liabilities. CHARLES K. BRELAND: Crimson, A & R Seek Committee Appointment ------------------------------------------------------------- Crimson Portfolio, LLC, and Adams and Reese LLP have filed a joint motion seeking appointment of an official committee of unsecured creditors in the Chapter 11 case of Charles Breland, Jr. In their joint motion, the unsecured creditors asked the U.S. Bankruptcy Court for the Southern District of Alabama to direct the bankruptcy administrator to appoint a committee, saying it would assure "adequate representation" of unsecured creditors in Mr. Breland's case. Both unsecured creditors expressed interest to serve on the committee. Crimson Portfolio is represented by: Jodi Daniel Cooke, Esq. Stichter Riedel Blain & Postler, PA 41 N. Jefferson Street, Suite 111 Pensacola, FL 32502 Phone: (850) 637-1836 Email: jcooke@srbp.com Adams and Reese can be reached through: Robin B. Cheatham, Esq. Adams and Reese LLP 701 Poydras Street, Suite 4500 New Orleans, LA 70139 Phone: (504) 581-3234 Email: robin.cheatham@arlaw.com About Charles Breland Jr. Charles K. Breland filed for Chapter 11 bankruptcy protection (Bankr. S.D. Ala. Case No. 16-02272) on July 8, 2016, and is represented by Eric Slocum Sparks, Esq. of Eric Slocum Sparks PC. A. Richard Maples, Jr. was appointed as Chapter 11 trustee for the Debtor. CHILDRESS GATEWAY: May Use Cash Collateral Through Sept. 30 ----------------------------------------------------------- The Hon. Brenda T. Rhoades of the U.S. Bankruptcy Court for the Eastern District of Texas has authorized Childress Gateway Enterprise, Inc., to use the cash collateral of Wellington State Bank through Sept. 30, 2017. As reported by the Troubled Company Reporter on July 10, 2017, the Debtor sought court authorization to use cash collateral of the Secured Lender, the Debtor's secured creditor, which asserts liens on the Debtor's real and personal property including room rents. The Debtor said it can adequately protect the interests of the Secured Lender by providing the Secured Lender with post-petition liens, a priority claim in the Chapter 11 bankruptcy case, and cash flow payments. The cash collateral will be used to continue the Debtor's ongoing operations. The Secured Lender is granted valid, binding, enforceable, and perfected liens co-extensive with the Secured Lender's pre-petition liens in all currently owned or hereafter acquired property and assets of the Debtor, of any kind or nature, whether real or personal, tangible or intangible, wherever located, now owned or hereafter acquired or arising and all proceeds and products, including, without limitation, all accounts receivable, general intangibles, inventory, and deposit accounts coextensive with their pre-petition liens. As adequate protection for the diminution in value of the interests of the Secured Lender, the Secured Lender is granted replacement liens and security interests, co-extensive with its pre-petition liens. No later than the last calendar day of each month, starting Aug. 31, 2017, the Debtor will remit to the Secured Lender the amount of $5,000, which will be held by the Secured Lender in escrow for payment of 2017 taxes on the Debtor's property. In addition, the Debtor will commence making monthly payments to the Secured Lender on or before Aug. 10, 2017, and on the 10th day of each month thereafter until otherwise directed by the Court or by operation of law, in the amount of $5,547. On or before the 15th day of September 2017, the Debtor will provide to the Secured Lender's counsel and to the U.S. Trustee by electronic mail a proposed budget for the two-month period starting Oct. 1, 2017, and if, on or before Sept. 25, 2017, the proposed extended budget is approved by the Secured Lender for the upcoming two-month period, the Debtor will file a notice of agreement authorizing continued use of cash collateral, and the Debtor will be authorized to use cash collateral in accordance with the approved extended budget. Unless specifically waived in writing by Secured Lender, the Debtor's right and authority to use cash collateral will immediately terminate upon the earlier of Sept. 30, 2017, or the occurrence of any of the following: a) 10 days following either Secured Lender's delivery of a notice (either written or via email) of a breach by the Debtor of any obligation under the court order which breach remains uncured or otherwise continues to exist at the end of the 10-day notice period; b) conversion of the Debtor's Chapter 11 case to a case under Chapter 7 of the U.S. Bankruptcy Code; c) the appointment of a trustee pursuant to Section 1104 of the Bankruptcy Code; d) the entry of any court order modifying, reversing, revoking, staying, rescinding, vacating or amending the court order without the express prior written consent of Secured Lender (and no consent will be implied from any action, inaction, course of conduct or acquiescence by Secured Lender); and e) the lifting of the automatic stay for any party other than Secured Lender and any party foreclosing or otherwise seeking to enforce any lien or other right the other party may have in and to any property of the Debtor's estate upon which Secured Lender holds or asserts a lien or security interest. A copy of the court order is available at: http://bankrupt.com/misc/txeb17-41406-29.pdf About Childress Gateway Headquartered in Richardson, Texas, Childress Gateway Enterprise, Inc., doing business as Econo Lodge, owns the Econo Lodge located at 1804 Ave. F N.W., Childress, Texas. Childress Gateway filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tex. Case No. 17-41406) on June 30, 2017, estimating its assets and liabilities at between $1 million and $10 million each. The petition was signed by Manherlal B. Patel, president. Judge Brenda T. Rhoades presides over the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC, serves as the Debtor's bankruptcy counsel. CIRCLE Z: Unsecureds to Get 2% of Bank Collateral Sale Proceeds --------------------------------------------------------------- Circle Z Pressure Pumping, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Texas a disclosure statement dated Aug. 7, 2017, referring to the Debtor's plan of reorganization. The claims of general unsecured creditors represented by timely filed proofs of claim total approximately $5,347,691.08. The Debtor will pay to the holders of Class 11 claims set forth in timely-filed proofs of claim on a quarterly basis pro rata a sum of money derived from 2% of the net proceeds of the sale of any of the collateral of Austin Bank, one-third of any positive cash flow generated by the Debtor in the operation of its business after the payment of all expenses plus any payments on secured debt, and the collection of any amounts recovered in the pursuit of avoidance or recovery actions under 11 U.S.C. Sections 544, 545, 547, 548, 549, 550, 551, and 553, as well as any other cause of action or claim which may be asserted by Debtor or its estate. The payments will be made over a period of 36 months following the date of the confirmation of the Plan. The Plan contemplates the continuing operation of the Debtor's business in order to fund payment of the claims provided for under the Plan. During the term of the Plan, the Debtor will continue to operate its business. The Debtor's income will be dedicated to the payment of obligations provided for under the Plan after appropriate allowance for necessary expenses and taxes. Should the net income of the Debtor increase during the term of this Plan such that Debtor may increase payments to the holders of claims in Classes 1-11, the Debtor will do so to pay those claims sooner than as contemplated by the Plan. The Debtor will also pursue preference and avoidance actions available to it for the benefit of the creditors of the bankruptcy estate. Should Debtor be able to secure the services of qualified counsel willing to proceed under a contingent fee agreement, the Debtor will pursue its claim against Sanchez Engineering. The Debtor will also distribute to Classes 10 and 11 any funds generated through the refund of 2% of any equipment sold in which Austin Bank holds a lien upon satisfaction of all administrative expenses. The Debtor will keep its property insured as provided by the various security agreements with secured creditors. Further, the Debtor will provide Austin Bank and BancorpSouth Bank with monthly income and expense statements in a form acceptable to said bank until such time as said bank shall notify Debtor in writing that it no longer requires statements. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/txeb16-60633-102.pdf About Circle Z Pressure Pumping Circle Z Pressure Pumping, LLC, filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-60633) on Oct. 11, 2016. The petition was signed by David Powell, member. The Debtor is represented by Michael E. Gazette, Esq., at the Law Offices of Michael E. Gazette. The Debtor estimated assets and debt of $10 million to $50 million at the time of the filing. The Debtor was originally formed in Texas in 2009. Its corporate headquarters and home office is located in Longview, Panola County, Texas. The Debtor's managing member, David Powell, has been with the Debtor since its formed. The Debtor's business is exclusively in the oil and gas industry rendering services in the hydraulic fracturing of formations to enhance the recovery of oil and gas. CORBETT-FRAME INC: Wants to Use Cash Collateral on Interim Basis ---------------------------------------------------------------- Corbett-Frame, Inc., seeks authorization from the U.S. Bankruptcy Court for the Eastern District of Kentucky to use cash collateral as set forth on the budget for an interim period, until a final hearing for continued use can be held. The Debtor's August 2017 Budget provides total monthly expenses of approximately $38,974. The Debtor proposes to use Cash Collateral to meet its post-petition obligations and to pay its expenses, general and administrative operating expenses, and other necessary costs and expenses, including taxes and insurance and other expenses incurred during the pendency of the bankruptcy case. The Debtor believes that US Bank, N.A, David Yurman Enterprises, LLC, High Speed Capital, Fox Capital Bizfi, and Crestview Financial may claim an interest in cash collateral. In consideration of the use of the cash collateral, the Debtor proposes to grant to US Bank and Dayid Yurman, replacement lien upon all property of the Debtor of the same priority, validity, and type and description as the prepetition collateral as of the Petition Date. The Debtor is willing to negotiate future adequate protection payments with US Bank. The Debtor believes David Yurman is adequately protected by the equity in its collateral. The Debtor also believes that the other creditors asserting liens in cash collateral appear to have no value to attach to their asserted liens due to a secured senior creditor or their liens are avoidable by the Debtor. As further adequate protection, the Debtor will continue to account for all cash use, and the proposed cash use is being incurred to preserve property of the Estate. A full-text copy of the Debtor's Motion, dated August 10, 2017, is available at https://is.gd/ofqdip A copy of the Debtor's Budget is available at https://is.gd/EyU8xp About Corbett-Frame Corbett-Frame, Inc., d/b/a Corbett-Frame Jewelers, owns a jewelry store in Lexington, Kentucky offering contemporary designer collections & customized pieces. The Company is a small business debtor as defined in 11 U.S.C. Section 101(51D). Corbett-Frame filed a Chapter 11 petition (Bankr. E.D. Ky. Case No. 17-51607) on Aug. 9, 2017. The petition was signed by Jennifer Lykins, president. At the time of filing, the Debtor estimated assets and liabilities between $1 million and $10 million. The case is assigned to Judge Gregory R. Schaaf. The Debtor is represented by Jamie L. Harris, Esq. at the Delcotto Law Group PLLC. CROFCHICK INC: Oct. 5 Amended Plan Outline Hearing Set ------------------------------------------------------ Judge John J. Thomas of the U.S. Bankruptcy Court for the Middle District of Pennsylvania approved Crofchick, Inc.'s small business disclosure statement with respect to its amended plan of organization filed on August 7, 2017. Sept. 15, 2017, is fixed as the last day for filing written acceptances or rejections of the plan. Oct. 5, 2017, at 9:30 am in the Courtroom No. 2, Max Rosenn U.S. Courthouse, 197 South Main Street, Wilkes-Barre, Pennsylvania is fixed for the hearing on confirmation of the plan. Sept. 15, 2017, is fixed as the last day for filing and serving written objections to the confirmation of the plan. About Crofchick, Inc. Crofchick, Inc., and Crofchick Realty, LLC, filed for Chapter 11 bankruptcy protection (Bankr. M.D. Pa. Case No. 15-03723 and 15-03724) on Aug. 30, 2015. Tullio DeLuca, Esq., serves as the Debtors' bankruptcy counsel. On June 22, 2016, the Debtors each filed its Chapter 11 Small Business Disclosure Statement and Chapter 11 Small Business Plan. CROFCHICK REALTY: Amended Plan Hearing Set for Oct. 5 ----------------------------------------------------- Judge John J. Thomas of the U.S. Bankruptcy Court for the Middle District of Pennsylvania approved Crofchick, Realty LLC's small business disclosure statement with respect to its amended plan of organization filed on Aug. 7, 2017. Sept. 15, 2017, is fixed as the last day for filing written acceptances or rejections of the plan. Oct. 5, 2017, at 9:30 am in the Courtroom No. 2, Max Rosenn U.S. Courthouse, 197 South Main Street, Wilkes-Barre, Pennsylvania is fixed for the hearing on confirmation of the plan. Sept. 15, 2017, is fixed as the last day for filing and serving written objections to the confirmation of the plan. About Crofchick Realty Crofchick Realty, LLC, was formed on Dec. 31, 2003, and has served as a real estate holding company that owns improved real estate that houses the business operations of its affiliate, Crofchick, Inc., a retail and wholesale bakery in Swoyersville, Pennsylvania. Crofchick Realty filed for Chapter 11 bankruptcy protection (Bankr. M.D. Pa. Case No. 15-03724) on Aug. 30, 2015. Tullio DeLuca, Esq., serves as the Debtor's bankruptcy counsel. CYPRESS ASSOCIATES: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------ The Office of the U.S. Trustee on August 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Cypress Associates, Inc. About Cypress Associates Inc. Cypress Associates, Inc. owns and operates an insurance brokerage in Houston, Texas. It was formed on February 12, 2009. The Debtor offers a variety of insurance products including health, life and well-being policies underwritten by Philadelphia American Life Insurance Company and New Era Life Insurance Company. Barry Glenn is the sole shareholder, officer and director of the Debtor. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 17-30491) on January 31, 2017. The petition was signed by Barry Glenn, president. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $50,000 and liabilities of $1 million to $10 million. The case is assigned to Judge Marvin Isgur. Burger Law Firm represents the Debtor as bankruptcy counsel. On July 25, 2017, the Debtor filed a disclosure statement, which explains its proposed Chapter 11 plan of reorganization. DARDEN-GREEN CO: Bankruptcy Administrator Objects to Disclosures ---------------------------------------------------------------- The Bankruptcy Administrator for the Northern District of Alabama objects to the disclosure statement explaining Darden-Green Co., Inc.'s Chapter 11 Plan. Among other things, the Bankruptcy Administrator complains that the Amended Disclosure Statement in Exhibit 6 "CLASSIFICATION OF CLAIMS AND TREATMENT OF CLAIMS" on page 4 under "Class 5 Small Unsecured Claims" lists a scheduled claim of Pamela A. Dunn in the amount of $5,770. This claim was listed in the original petition. Ms. Dunn was employed by debtor-in-possession under 11 U.S.C. 327(a) as an accountant (nunc pro tunc), on negative notice on or about April 25, 2017. As Ms. Dunn holds a pre-petition claim, she is not "disinterested" and either must waive this claim or not seek compensation for services performed for the debtor-in-possession. The Amended Disclosure Statement on page 11 also indicates that upon plan confirmation all property of the estate will vest in the Debtor at that time. The Bankruptcy Administrator believes that this may be too soon and recognizes that vesting is a confirmation issue. In addition, the plan appears to violate the absolute priority rule. The Bankruptcy Administrator recognizes that a violation of the absolute priority rule is a confirmation issue. However, the Bankruptcy Administrator has elected to raise that issue now so as to give the plan proponent an opportunity to address as early as possible a potential violation of the absolute priority rule. For the said reasons, the Bankruptcy Administrator objects to the Debtor's amended disclosure statement and recommends that the amended disclosure statement as submitted not be approved. The Troubled Company Reporter previously reported that under the amended plan, Class 3 Secured Claim of Hinkle Metal Supply will receive a note in the amount of their claim together with interest payable at the per annum rate of 5%, in equal monthly installments over a period of 10 years. Their judgment lien will remain in effect to secure the note issued by the Debtor to the claimant. A full-text copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/alnb16-01957-121.pdf About Darden-Green Darden-Green Co., Inc., based in Birmingham, Alabama, filed a Chapter 11 petition (Bankr. N.D. Ala. Case No. 16-01957) on May 12, 2016. The petition was signed by Bobbie Green, general manager. The Hon. Tamara O Mitchell presides over the case. Thomas E. Reynolds, Esq., at Reynolds Legal Solutions, LLC, serves as Chapter 11 counsel. In its petition, the Debtor listed total assets of $2.13 million and total liabilities of $2.31 million. DAVE 60 NYC: Hearing on Plan Filing Extension Set for Sept. 6 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York has scheduled for Sept. 6, 2017, at 10:00 a.m. (prevailing Eastern Time), the hearing to consider Dave 60 NYC, Inc.'s request to extend the time within which (i) the Debtor has the exclusive right to file a plan of reorganization for 90 days through and including Nov. 20, 2017, and (ii) the Debtor must file its plan and disclosure statement (if any) for 90 days through and including Nov. 20, 2017. Objections to the request must be filed by Aug. 30, 2017, at 5:00 p.m. (prevailing Eastern Time). As reported by the Troubled Company Reporter on May 18, 2017, the Court extended, at the behest of Dave 60 NYC, Inc., the Debtor's exclusive right to file a plan of reorganization through and including Aug. 21, 2017, and the Debtor's time to file a plan of reorganization through and including Aug. 21, 2017. This is the Debtor's third request for an extension of the Exclusivity Period. The Debtor seeks the entry of a court order extending the exclusivity period, to ensure that the Court, the Debtor and other parties in interest are not distracted by the filing of any competing or premature plans. The Debtor submits that the requested extension of the exclusivity period and plan filing deadline should be granted so that it will have sufficient time to formulate and confirm a plan. The Debtor submits that the same case law should supports extensions of the Debtor's exclusivity period under Section 1121(e) of the U.S. Bankruptcy Code. The moving party bears the burden of establishing that cause exists for an extension of exclusivity under the Bankruptcy Code. Since the Debtor's previous motion to extend the exclusivity period, the Debtor relates it has resolved its prepetition class action lawsuit based on wage claims from certain prepetition claims. An order approving the settlement has been approved by the Court, however, the settlement is still pending approval in the District Court. Additionally, the Debtor is currently in discussions with the City of New York to resolve an outstanding prepetition tax liability, a determination of which, will determine the Debtor's exit strategy Upon a final resolution of the class action litigation as well as a resolution of the Debtor's outstanding tax liability with the City of New York, the Debtor will then be able to determine an appropriate exit strategy. While the Debtor is resolving its last remaining claims, the Debtor believes that it needs to maintain its Exclusivity Period and extend the plan filing deadline -- currently Aug. 21 -- to avoid the possibility that a third-party may file a competing plan, while the Debtor is trying to resolve its remaining issues. About Dave 60 NYC Dave 60 NYC Inc. operates a holding company, which holds a non-managing 59.05% interest in an entity which operates a restaurant in Manhattan, Philippe by Philippe Chow. Dave 60 NYC Inc., filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 16-12146) on July 27, 2016. Judge Michael E Wiles presides over the case. The Debtor has employed Robinson Brog Leinwand Greene Genovese & Gluck P.C. as its counsel and Kenny Nachwalter, P.A. as its Florida special litigation counsel. No trustee, examiner or committee has been appointed in Debtor's Chapter 11 case. DAVID GEERTS: Almburg Okayed to Auction Farm Equipment ------------------------------------------------------ David L. Geerts and Julie A. Norman-Geerts sought and obtained approval from the U.S. Bankruptcy Court for the Northern District of Illinois to authorize them to (i) retain Steven J. Almburg of Almburg Auctioneering Inc. as Auctioneer and (ii) sell farm equipment at auction. The reorganization of the Debtors' business will include Mr. Geerts ceasing to operate a farming business while continuing to engage in an excavating business. In furtherance of the reorganization process, the Debtors have leased all of their farmland to third parties for the year 2017 and have engaged, with the approval of the Court, Ken Duncan of Duncan Land & Auction, Inc. as a real estate broker to list and market for sale certain real property consisting of farmland situated in Rock Island County, Illinois, commonly known as the Schipper Farm, farmland consisting of approximately 181 acres in Whiteside County, Illinois, commonly known as the Brummel Farm and real estate commonly described as 2002 16th Avenue, Fulton, Illinois, consisting of approximately 17.86 acres of development lots. The reorganization of their business will also include the sale of farm equipment utilized by Mr. Geerts in the operation of his farming business. He desires to retain Almburg as an auctioneer for the purpose of conducting a public auction of the farm equipment. Community State Bank possesses a lien, security interest and encumbrance against a 2005 Flatbed trailer and all non-titled Equipment, while Farm Credit Services of America possesses a prior lien, security interest and encumbrance against a Walker Sprayer and John Deere Financial a prior lien, security interest and encumbrance against a 2012 John Deere 1770 NT Planter within the Equipment to be sold pursuant to the public auction. In furtherance of the retention of Almburg as an auctioneer, Mr. Geerts will execute an Equipment Auction Agreement with Almburg which provides, in pertinent part, for the Equipment to be sold through an online internet auction utilizing Auction Time with an auction to occur every Wednesday prior to Oct. 31, 2017 when the auction of the Equipment is to be concluded. A reserve price equal to the amount of the indebtedness to Farm Credit secured by the Sprayer and John Deere Financial secured by the Planter will be established for the auction sale of the Sprayer and Planter, respectively. The Agreement provides that Almburg will advertise the Equipment for sale which will include taking digital pictures of each item of Equipment and, where warranted, a video of each item of the Equipment, and will also show the Equipment to any potential buyers prior to the conduct of the auction. The auction sale of the Equipment will be free and clear of liens and encumbrances with any liens and encumbrances to attach to the proceeds of sale in the same order of priority that such lien and encumbrance possessed against the Equipment. The net proceeds of sale from the Equipment, after the payment of costs and expenses of sale including the commission to Almburg, will be paid to the Debtors and deposited into their cash collateral bank account. Almburg will be paid a commission equal to 4.2% of the highest bid received for each item of Equipment sold at the auction and Auction Time will receive the following payments for the use of its service in the conduct of the auction: Sales Price - Each Item of Equipment ------------------------------------ $15,000 and over $495 $10,000 to $14,999 $395 $5,000 to $9,999 $295 $0 to $4,999 2% In the event the bids received at the auction for the sale of the Sprayer and/or the Planter are not greater than the reserve price for the Sprayer and/or Planter, Mr. Geerts will promptly surrender all of his right, title and interest in and to such Sprayer and/or Planter to Farm Credit and/or John Deere Financial respectively in satisfaction of his indebtedness secured by a lien against the Sprayer and/or Planter. During the conduct of the Auction, the Debtors may periodically file a Report with the Court regarding the results of the auction which will set forth for each item of Equipment sold at the auction: the identity of prevailing successful bidder, the gross sales price, costs and expenses of sale including commission, the net sales proceeds and the identity of the person or creditor to receive the net sales proceeds. The Report will be served upon all Notice Parties. Any objection to the Report will be filed and served within seven days of the filing and service of the Report. Any objection to a Report will be scheduled for a hearing before the Court not later than 14 days after the filing of the objection to the Report. The Debtors will disburse the net sale proceeds from their cash collateral bank account consistent with the contents of the Report or any order entered by the Court upon any objection to the Report. The Debtors are in the process of preparing their Disclosure Statement and Plan of Reorganization which will be filed with the Court which will provide, in pertinent part, for the auction sale of the Equipment by Almburg consistent with the terms and conditions set forth. It is in the best interest of the Debtors and their creditors and will promote the reorganization of their business that the Debtors be authorized to sell the Equipment at a public auction and to execute the Agreement so as to retain Almburg as an auctioneer for the purpose of conducting a public auction sale of the Equipment free and clear of liens and encumbrances. A copy of the list of Equipment to be sold and the Auction Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/David_Geerts_126_Sales.pdf About David and Julie Norman-Geerts David L. Geerts and Julie A. Norman-Geerts sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 17-80321) on Feb. 17, 2017. The case is assigned to Judge Thomas J. Lynch. The Debtors are represented by Jocelyn L. Koch, Esq., at Holmstrom & Kennedy PC. DIGIDEAL CORP: Automatic Stay Bars S. Coady from Filing Complaint ----------------------------------------------------------------- Magistrate Judge John H. Rich, III, of the U.S. District Court for the District of Maine denied plaintiff Susanna Coady's motion requesting the court to serve her complaint on defendant Digideal Corporation. The plaintiff's motion states, somewhat ambiguously, that she has "reached out 2 times to Digideal Corporation with no response from them." The Court says it is unclear whether this means that she has attempted to serve a formal summons on the defendant, or has attempted to initiate some other form of contact. As a threshold matter, the court takes judicial notice of the fact that, on Feb. 22, 2017, about four months before the filing of the complaint, the defendant filed a Voluntary Petition for Chapter 11 Bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Washington. The filing of a petition for bankruptcy triggers an automatic stay of the commencement or continuation of litigation against the filer until such time as the bankruptcy case is closed or dismissed, a discharge is granted or denied, or a party in interest obtains relief from the automatic stay. Until the bankruptcy court grants the plaintiff's motion for relief from stay or the defendant's bankruptcy case is terminated, no service of process can issue. Thus, the plaintiff's motion for the court to serve her complaint on the defendant is denied without prejudice pending the adjudication of her motion for relief from stay and her filing of a successful petition to proceed in forma pauperis. The case is SUSANNA COADY, Plaintiff v. DIGIDEAL CORPORATION, Defendant, No. 2:17-cv-00217-JAW (D. Me.). A full-text copy of Judge Rich's Memorandum Decision and Order dated August 8, 2017, is available at https://is.gd/tdxoTh from Leagle.com. SUSANNA COADY, Plaintiff, Pro Se. About Digideal Corporation Digideal Corporation sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wash. Case No. 17-00449) on Feb. 22, 2017. The petition was signed by Michael J. Kuhn, president. The case is assigned to Judge Frederick P. Corbit. Kevin O'Rourke, Esq., at Southwell & O'Rourke, P.S., serves as the Debtor's legal counsel. At the time of the filing, the Debtor estimated its assets at $100 million to $500 million and liabilities at $1 million to $10 million. DMH LEASING: Taps Weinstein & St. Germain as Legal Counsel ---------------------------------------------------------- DMH Leasing II, L.L.C. received approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire Weinstein & St. Germain, LLC as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code and provide other legal services related to its Chapter 11 case. The compensation arrangement is an hourly fee based on time spent by the attorneys and their staff and reimbursement for work-related expenses. Thomas St. Germain, Esq., disclosed in a court filing that his firm does not represent any interest adverse to the Debtor. The firm can be reached through: Thomas E. St. Germain, Esq. Weinstein & St. Germain, LLC 1414 NE Evangeline Thruway Lafayette, LA 70501 Tel: (337) 235-4001 Fax: (337) 235-4020 Email: ecf@weinlaw.com About DMH Leasing II L.L.C. DMH Leasing II, L.L.C. owns a yard equipment rental store at 2623 S.E. Evangeline Thruway, Lafayette, Louisiana, valued at $900,000. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Case No. 17-51002) on August 3, 2017. Darlene Hillman, member, signed the petition. At the time of the filing, the Debtor disclosed $906,275 in assets and $2.97 million in liabilities. Judge Robert Summerhays presides over the case. DOUBLE EAGLE: Taps Colvin Smith as Special Counsel -------------------------------------------------- Double Eagle Energy Services, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to retain Colvin, Smith & McKay as its special counsel. The firm will continue to represent the Debtor in a lawsuit (Case No. 72,140) it filed in the 26th Judicial District Court, Parish of Webster, Louisiana. The case involves the overpayment of worker's compensation insurance premiums by the Debtor to American Interstate Insurance Co. Cole Smith, Esq., disclosed in a court filing that he and his firm do not represent any interest adverse to the Debtor and its estate. The firm can be reached through: Cole B. Smith, Esq. Colvin, Smith & McKay 900 Market Street, Suite 300 Shreveport, LA 71101 Phone: (318) 429-6770 Fax: (318) 429-6771 Email: csmith@colvinfirm.com About Double Eagle Energy Services Founded in 2006, Double Eagle Energy Services, a company based in Alexandria, Louisiana, provides general contracting services such as constructing water and sewer mains. The Debtor filed a Chapter 11 petition (Bankr. W.D. La. Case No. 17-80717) on July 17, 2017. In its petition, the Debtor indicated $12.41 million in total assets and $13.18 million in total liabilities. The petition was signed by Joe Ratcliff or Bob Ratcliff, owners. Judge John W. Kolwe presides over the case. Bradley L. Drell, Esq., at Gold, Weems, Bruser, Sues & Rundell, serves as bankruptcy counsel. DOUBLEVIEW CAPITAL: Receives Default Notice on Convertible Notes ---------------------------------------------------------------- Doubleview Capital Corp. (DBV) on Aug. 16, 2017, disclosed that it received a notice of an alleged event of default with respect to its convertible notes due August 1, 2018 (the "Notes"). The noteholders advise that they intend to accelerate the due date for the outstanding principal amount of the Notes and other amounts due under the Notes. Doubleview is currently reviewing the notice of default consulting its legal counsel regarding how to respond to the alleged notice of default. About Doubleview Capital Corp. Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada and is publicly traded on the TSX-Venture Exchange (DBV) (otc pink:DBLVF) (frankfurt:1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk. ENGLEWOOD MISSIONARY: Taps Wilson Harrell as Legal Counsel ---------------------------------------------------------- Englewood Missionary Baptist Church, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to hire legal counsel. The Debtor proposes to employ Wilson, Harrell, Farrington, Ford, Wilson, Spain & Parsons P.A. to give legal advice regarding its duties under the Bankruptcy Code and provide other legal services related to its Chapter 11 case. The firm does not hold any interest adverse to the Debtor or its bankruptcy estate, according to court filings. Wilson Harrell can be reached through: Steven J. Ford, Esq. Wilson, Harrell, Farrington, Ford, Wilson, Spain & Parsons P.A. 307 S. Palafox Street Pensacola, FL 32502 Tel: 850-438-1111 Fax: 850-432-8500 Email: jsf@whsf-law.com Email: amanda@whsf-law.com About Englewood Missionary Baptist Church, Inc. Englewood Missionary Baptist Church, Inc. is a baptist church in Pensacola, Florida. It owns fee simple interests in various real properties in Pensacola, Florida, including a church building. The properties have an aggregate current value of $3.76 million. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 17-30693) on August 3, 2017. Kenneth Frye, trustee, signed the petition. At the time of the filing, the Debtor disclosed $3.92 million in assets and $2.46 million in liabilities. Judge Jerry C. Oldshue Jr. presides over the case. ENUMERAL BIOMEDICAL: Has $3.13M Q2 Loss, Winding Down Operations ---------------------------------------------------------------- Enumeral Biomedical Holdings, Inc., on Aug. 14, 2017, announced its financial results for the three months ended June 30, 2017. On June 29, 2017, the Company's Board of Directors, having evaluated and pursued a range of potential strategic transactions, and other alternatives for the sale or disposition of its assets on a going concern basis, determined that it is in the best interests of the Company's stockholders and creditors to wind down the Company's remaining operations and effect an orderly disposition of the Company's remaining assets, including the Company's intellectual property related to its PD-1 and TIM-3 antibody programs. Second Quarter 2017 Financial Results Cash and Cash Equivalents: Cash and cash equivalents as of June 30, 2017 were $576,307, compared to $3,162,400 as of December 31, 2016. Enumeral does not have sufficient cash resources to continue to fund its operations and pay all of its outstanding creditors. Enumeral is currently in the process of winding down its operations, disposing of its remaining assets, and resolving its outstanding debts. The Company's liquidity is dependent on its ability to manage all elements of this process in a manner favorable to Enumeral. As the Company winds down its operations, it continues to consider possible transactions pursuant to which Enumeral may sell its remaining assets, and/or effect a strategic transaction, such as a merger. If Enumeral is unable to effect one or more such transactions, the Company may be compelled to commence liquidation or bankruptcy proceedings. Revenue: Revenue decreased by $1,309,231 to $189,741 for the three months ended June 30, 2017, as compared to $1,498,972 for the three months ended June 30, 2016. This decrease in revenue is primarily attributable to the Company's license agreement with Pieris Pharmaceuticals and its study agreement with Merck. As a result of the Company's determinations in June 2017 to terminate its research and development function and sell its laboratory equipment, as well as to wind down its remaining operations, the Company does not expect to conduct any further activities pursuant to its study agreement with Merck. Consequently, the Company does not expect to recognize any additional revenue with respect to the Merck agreement. Research and Development Expenses: Research and development expenses decreased by $357,463 to $883,338 for the three months ended June 30, 2017, as compared to $1,240,801 for the three months ended June 30, 2016. This decrease is primarily due to a decrease in payroll and personnel expenses as a result of lower headcount, a decrease in royalties owed to the Massachusetts Institute of Technology, a decrease in stock-based compensation, and a decrease in depreciation expense. As a result of the Company's determinations in June 2017 to terminate its research and development function and sell its laboratory equipment, as well as to wind down its remaining operations and dispose of its remaining assets, the Company does not expect to incur significant research and development expenses in the future. General and Administrative Expenses: General and administrative expenses decreased by $1,135,826 to $609,378 for the three months ended June 30, 2017, as compared to $1,745,204 for the three months ended June 30, 2016. This decrease is primarily due to a decrease in payroll and personnel expenses as a result of lower headcount, a decrease in professional fees, and a decrease in stock-based compensation. As a result of the Company's determination in June 2017 to wind down its remaining operations, the Company expects that its general and administrative expenses will continue to decrease in the future. Wind Down Expenses. Wind down expenses were $1,055,246 for the three months ended June 30, 2017. The Company recognized no wind down expenses for the three months ended June 30, 2016. The Company's wind down expenses were primarily associated with the extinguishment of restricted cash in connection with the Company's operating lease, a loss on the auction sale of its laboratory equipment, and a loss associated with the buyout of its equipment lease during the three months ended June 30, 2017. Other Income (Expense): Other income (expense) changed by $919,849 to ($780,373) for the three months ended June 30, 2017, as compared to $139,476 for the three months ended June 30, 2016. This change is primarily due to a decrease in non-cash income related to the change in the fair value of derivative liabilities associated with the warrants issued in connection with the Company's July 2014 private placement transaction, and an increase in interest expense resulting from the full accretion of the discount and other transaction costs associated with the Company's Unit Offering in May 2017. In connection with the completion of the Company's warrant tender offer on December 12, 2016, the July 2014 warrants were either exercised or amended to remove the anti-dilution provisions. As a result, these warrants are no longer classified as derivative liabilities. Net Loss: Net loss increased by $1,791,037 to $3,138,594 for the three months ended June 30, 2017, as compared to $1,347,557 for the three months ended June 30, 2016. Headquartered in Cambridge, Massachusetts, Enumeral Biomedical Holdings, Inc. (OTCQB: ENUM) is a biopharmaceutical company focused on discovering and developing antibody immunotherapies that help the immune system fight cancer and other diseases. The Company utilizes a platform technology that facilitates the resolution measurement of immune cell function within small tissue biopsy samples. ESTEBAN DISTRIBUTOR: Wants More Time to Confirm Plan ---------------------------------------------------- Esteban Distributor Inc. asks the U.S. Bankruptcy Court for the District of Puerto Rico to extend the time to confirm a plan of reorganization until Sept. 19, 2017. The Debtor explains it needs an extension to (i) allow creditors more opportunity to review a settlement and (ii) finish all the issues pending that will favorably conclude in the plan being confirmed. On July 14, 2017, the Debtor filed small business Disclosure Statement and Chapter 11 Plan. On July 17, the Court entered an order to schedule the confirmation hearing for Aug. 18 at 9:30 a.m. On Aug. 8, Scotiabank of Puerto Rico filed an objection to the Disclosure Statement and the confirmation of the plan. The Debtor and creditor Scotiabank came to an agreement regarding the objections and the confirmation of the Plan. Although, the stipulation filed has a shorten objection language, the Debtor still needs to file the 1129 Statement to which creditor have a right to review and object. According to the Debtor, the Plan is confirmable, because it has the necessary base to pay all creditors and has the vote of an impaired class. Based on the record and pursuant to Section 1121(e)(3)(A), the Debtor has demonstrated by a preponderance of the evidence that it will confirm the plan of reorganization within a reasonable time. Furthermore, a new deadline should be imposed at the time the extension is granted and the order extending the time signed before the existing deadline expired, thus satisfying Sections 1121(e)(3)(B) and (C). About Esteban Distributor Headquartered in Toa Baja, Puerto Rico, Esteban Distributor Inc. filed for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No. 16-03799) on May 11, 2016, estimating its assets and liabilities at between $100,001 and $500,000 each. Maria Soledad Lozada Figueroa, Esq., at MS Lozada Law Office serves as the Debtor's bankruptcy counsel. FCBM LLC: Has Approval to Use Cash Collateral --------------------------------------------- Judge Thomas P. Agresti of the U.S. Bankruptcy Court for the Western District of Pennsylvania authorized FCBM, LLC, to use cash collateral in the operation of its business and in accordance with the monthly budget attached to the Motion. The Debtor is prohibited from incurring postpetition indebtedness which cannot be paid. The prepetition liens of respondents JTS Capital 2, LLC Assignee of First National Bank of Pennsylvania, Meadville Redevelopment Authority, and Imogene Cocolin ("Respondents") will be continued postpetition as to both prepetition and postpetition assets, but the value of the Respondents' liens will not be greater postpetition than the value thereof at the time of filing of the Chapter 11 Petition. For the time being, the Debtor is directed to make an interest-only adequate protection payment as provided for in the Motion and the Budget. Moreover, the Debtor will maintain the value of the business and collateral as a going concern, pending reorganization or sale. The Debtor will also provide the Respondents and other secured creditors such access to the Debtor's records and financial information, including but not limited to the monthly financial reports required by the U.S. Trustee. A full-text copy of the Order, dated Aug. 10, 2017, is available at https://is.gd/PofvAM About FCBM LLC FCBM, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 17-10704) on July 5, 2017. Ed Fine, manager, signed the petition. Judge Thomas P. Agresti presides over the case. The Debtor estimated assets and liabilities of less than $1 million. John F. Kroto, Esq. and Guy C. Fustine, Esq., at Knox McLaughlin Gornall & Sennett P.C., serves as the Debtor's counsel. Cherie Jones, at Coldwell Banker is the Debtor's real estate broker. FRESH FANATIC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Fresh Fanatic, Inc. 88 Washington Avenue Brooklyn, NY 11205 Tel: 888-373-7404 Type of Business: Fresh Fanatic -- http://www.freshfanatic.com/-- owns an organic market in Brooklyn, New York. The Company offers organic, all natural and local groceries and produce, fresh meat and fish, international cheeses and top notch deli meats. It also features gluten-free, non-dairy, vegan, and sugar- free specialties. The Company obtains local produce straight from the farm, including local farms in upstate New York like Hepworth Farms and Lucky Dog Farm. Fresh Fanatic has an organic juice and smoothies bar, an all-natural gourmet hot food bar, fresh made soups, prepared foods, guacamole and hummus, and fresh-baked goods as well as custom desserts by 5-star baker Michael Allen. Chapter 11 Petition Date: August 17, 2017 Case No.: 17-44263 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Tracy L Klestadt, Esq. KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP 200 West 41st Street, 17th Floor New York, NY 10036-7203 Tel: (212) 972-3000 Fax: 212-972-2245 E-mail: tklestadt@klestadt.com - and - Andrew S Richmond, Esq. KLESTADT WINTERS JURELLER SOUTHARD & STEVENS LLP 200 West 41st St New York, NY 10036 Tel: 212 972 3000 Fax: 212 972 2245 E-mail: arichmond@klestadt.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Andrew Goldin, chief executive officer. The Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/nyeb17-44263.pdf FRIENDSHIP VILLAGE: Wants Oct. 17 Plan Exclusivity Extension ------------------------------------------------------------ Friendship Village of Mill Creek, NFP, asks the U.S. Bankruptcy Court for the Northern District of Illinois to extend the Debtor's exclusive right to file a plan of reorganization to and including Oct. 17, 2017, and extend the Debtor's exclusive right to solicit acceptances of any plan of reorganization which it files within the foregoing period, to and including Dec. 16, 2017. A hearing to consider the Debtor's request will be held on Aug. 31, 2017, at 2:00 p.m. The Debtor says that each of the extensions will facilitate the negotiations over the final form of the Debtor's proposed plan of reorganization which have been ongoing with the Debtor's principal secured creditor and bond trustee UMB Bank, N.A. The Bond Trustee has requested that the Debtor's exclusive rights to file a plan and solicit acceptances thereof be terminate immediately if the Debtor's right to use the Bond Trustee's cash collateral terminates under the provisions of the final court order authorizing the Debtor to use cash collateral entered on May 11, 2017, as that court order may be amended and extended from time to time. The Debtor has agreed to this condition and request of the Bond Trustee. Only the Debtor may file a plan until after 120 days after the date of the order for relief under Chapter 11. The Debtor has not filed a plan before 120 days after the date of the order for relief. The Debtor intends, on or before Aug. 30, to file a plan of reorganization in this case in a form which is acceptable to the Bond Trustee, together with a disclosure statement and other materials which would facilitate a confirmation hearing in mid-October of 2017. About Friendship Village of Mill Creek Friendship Village of Mill Creek, NFP, doing business as GreenFields of Geneva, owns and operates a continuing care retirement community located in Geneva, Illinois, known as GreenFields of Geneva ("Campus"). The Campus is improved with a building which includes (i) 147 independent living units, (ii) 51 assisted living units, (iii) 26 memory support-assisted living units, (iv) 43 nursing beds, and (v) related common areas and parking. Approximately 270 senior citizens reside at the Campus. Friendship Village of Mill Creek sought Chapter 11 protection (Bankr. N.D. Ill. Case No. 17-12470) on April 20, 2017. * * * GreenFields of Geneva has filed a motion to sell substantially all assets to Friendship Senior Options ("FSO") for $52,800,000, subject to overbid. In connection with the sale process, the Debtor proposed a July 19, 2017 deadline for bids and an auction on July 26. Stahl Cowen Crowley Addis, LLC, is serving as counsel to the Debtor, with the engagement led by Bruce Dopke, Esq., Kevin V. Hunt, Esq., and Melissa J. Lettiere, Esq., in Chicago, Illinois. FRONTIER COMMUNICATIONS: S&P Cuts Ratings on 2 Debt Classes to B ---------------------------------------------------------------- S&P Global Ratings lowered its ratings on two series of securities linked to Frontier Communications Corp. to 'B' from 'B+'. S&P said, "Our ratings on these two transactions are dependent on our rating on the underlying security, Frontier Communications Co.'s 7.05% senior debentures due Oct. 1, 2046 ('B')." S&P added, "T[he] rating actions reflect the Aug. 3, 2017, lowering of our rating on the underlying security to 'B' from 'B+'. "We may take subsequent rating actions on these transactions due to changes in our rating assigned to the underlying security." RATINGS LOWERED Structured Asset Trust Unit Repackages (SATURNS) Citizen Communication Debenture-Backed Series 2001-2 US$26.122 million callable units series 2001-2 Class Rating To From Units B B+ PreferredPLUS Trust Series CZN-1 US$34.5 million preferred plus 8.375% trust certificates Class Rating To From Certificates B B+ FTHG DEVELOPMENT: Has Interim Nod to Use Cash Collateral -------------------------------------------------------- Judge Diane Davis of the U.S. Bankruptcy Court for the Northern District of New York has entered an interim order authorizing FTHG Development, LLC, to use the cash collateral of Trustco Bank. The Debtor is directed to make interest payments to Trustco Bank in the amount of $1,026, commencing on Sept. 15, 2017 and every month thereafter, through and until confirmation of the Debtor's Chapter 11 Plan. The Debtor will also cause Trustco Bank to be named as an additional insured/mortgagee on the Debtor's hazard insurance policy in a minimum amount of $336,000. In addition, the Debtor is directed to pay ongoing school and property taxes when they come due. A full-text copy of the Interim Order, dated Aug. 10, 2017, is available at https://is.gd/pbQSXi About FTHG Development Headquartered in Gloversville, New York, FTHG Development, LLC, owns and operates a mobile home park located at 101 Deer Park Boulevard, Gloversville, New York. FTHG Development filed for Chapter 11 bankruptcy protection (Bankr. N.D.N.Y. Case No. 17-60875) on July 5, 2017, estimating assets of less than $1 million and liabilities of less than $500,000. Jaqueline K. Leto, authorized representative, signed the petition. The Debtor hired Brian Bronsther, Esq., at The Bronsther Law Firm, as its bankruptcy counsel. GALLEON MANAGEMENT: Raj Rajaratnam Fights for Fraud Case Dismissal ------------------------------------------------------------------ Jack Newsham, writing for Bankruptcy Law360, reports that Raj Rajaratnam and George Lau and Richard Schutte -- executives with his defunct hedge fund Galleon Group -- asked a New York federal judge to dismiss a bankruptcy trustee Alan Nisselson's $135 million fraud lawsuit against them, saying the complaint "completely distorts the reality" of the Company's wind-down. Law360 recalls that Messrs. Rajaratnam, Lau, and Schutte were accused earlier this year of giving themselves undeserved payouts while they went about closing down Galleon Management LP following government accusations that Mr. Rajaratnam raked in millions from illegal tips. The allegations are too vague and conclusory to continue, Law360 relates, citing Messrs. Rajaratnam, Lau, and Schutte. According to the report, the defendants claim that (i) Mr. Nisselson didn't provide any hard facts to support his claim that $17 million in salary the men took in December 2010 was "far in excess" of what was fair; and (ii) the idea that those payments left the Galleon fund insolvent is undercut by the allegation that Mr. Rajaratnam took another $118 million the next day in what the defendants characterized as a legitimate deferred compensation payment -- and the trustee's claim that the fund took in $70 million more that month than it paid the defendants does him no favors. Law360 quoted the defendants as saying, "Winding down a large hedge fund operation, particularly under the circumstances described above, was a massive and difficult undertaking. Schutte and Lau carried out their duties in an exemplary fashion, and at a very reasonable cost, with the assistance of Shearman & Sterling and under the watchful eye of the U.S. attorney and the SEC." According to Law360, the defendants argued that fourth and fifth counts of the complaint, including one against the Galleon fund's general partner Galleon Management LLC, should be dismissed because they relied on the first three claims. Law360 shares that the trustee is represented by Howard L. Simon and Leslie S. Barr of Windels Marx Lane & Mittendorf LLP, while the defendants are represented by Jonathan L. Flaxer and Jacqueline G. Veit of Golenbock Eiseman Assor Bell & Peskoe LLP. About Galleon Management Galleon Group, which managed $7 billion at its peak last year, operates five hedge funds. Raj Rajaratnam, founder of Galleon Group, 52, was ranked No. 559 by Forbes magazine this year among the world's wealthiest billionaires, with a $1.3 billion net worth. As reported by the Troubled Company Reporter on Oct. 27, 2009, the Debtor said it would wind down its funds, less than a week after hedge-fund management firm and its founder were charged by the Securities and Exchange Commission of insider trading. Raj Rajaratnam, founder of Galleon Group, sent a letter to investors saying he would "explore various alternatives for our business". GARBER BROS: May Use Cash Collateral Through Oct. 6 --------------------------------------------------- The Hon. Melvin S. Hoffman of the U.S. Bankruptcy Court for the District of Massachusetts for the District of Massachusetts has authorized Garber Bros., Inc., to use cash collateral through Oct. 6, 2017. The Debtor will reserve and escrow the amount of $66,000 on account of the motion by certain asserted creditors to compel disgorgement of non-estate property and pending the disposition of the motion. A final hearing on the Debtor's cash collateral use will be held on Oct. 4, 2017, at 11:00 a.m. Objections to further cash collateral use must be filed by Sept. 29, 2017, at 4:30 p.m. Any budget for further use of cash collateral must be filed by Sept. 22, 2017. A copy of the Order is available at: http://bankrupt.com/misc/mab17-11802-161.pdf As reported by the Troubled Company Reporter on Aug. 4, 2017, the Debtor sought court permission to use cash collateral to continue the orderly wind down of its business and preserve the value of its assets for its creditors for the period from Aug. 5, 2017, through Nov. 3, 2017. About Garber Bros. Garber Bros., Inc., is a greater Boston convenience store distributor. It abruptly closed its doors on April 10, 2017, and ceased operations. Alleged creditors signed an involuntary Chapter 7 petition for Garber Bros. (Bankr. D. Mass. Case No. 17-11802) on May 15, 2017. The petitioning creditors are BIC USA, Conagra Brands, Inc., General Mills, Inc., Mars Financial Services, Mondelez, Nestle USA, The Coca-Cola Company, and The Hershey Company. The petitioning creditors are represented by Janet E. Bostwick, at Janet E. Bostwick, PC. On June 7, 2017, the Court granted the Debtor's motion to convert the case to Chapter 11. Murphy & King, PC, is the Debtor's counsel, and Argus Management Corporation serves as the Debtor's financial advisor. On June 28, 2017, the U.S. Trustee appointed an official committee of unsecured creditors. The Committee is represented by Blakeley LLP. GLOBAL COMPUTER: Law Firm Did Not Commit Legal Malpractice ---------------------------------------------------------- The adversary proceeding captioned GLOBAL COMPUTER ENTERPRISES, INC., Plaintiff, v. STEESE, EVANS & FRANKEL, P.C., Defendant, Adv. Proceeding No. 15-01063-BFK (Bankr. E.D. Va.), came for trial on the merits on May 15-25 and June 8, 2017. Judge Brian F. Kenney of the U.S. Bankruptcy Court for the Eastern District of Virginia rules in favor of the Defendant on Count III (Legal Malpractice), the sole remaining count in the Plaintiff's Second Amended Complaint. In April 2011, the U.S. General Services Administration awarded GCE a contract for software development for the System for Award Management. In August 2011, Venkatesh Kalluru, GCE's project manager on the SAM Task Order, requested advice from John Janacek, an attorney in SEF's D.C. office, on whether GCE could use personnel with a related firm located in India called ReThink India for certain work on the SAM contract. Mr. Janacek is a highly experienced attorney in the field of government contracts. Mr. Janecek advised Mr. Kalluru in an e-mail on August 19, 2011, and followed it up with an e-mail dated Sept. 1, 2011. In early 2008, GCE identified a potential contracting opportunity with the U.S. Department of Labor. In late August 2011, GCE requested advice from SEF on the use of H1-B Visa holders on the DoL and EEOC contracts. Mr. Janacek again gave his advice on Sept. 1, 2011, and reiterated it on Sept. 7, 2011. On March 22, 2013, GCE's offices were raided by agents from the FBI and the GSA. After Jonathan Frankel debriefed a number of the GCE employees, it appeared to Mr. Frankel and GCE that the government was interested in: (a) ReThink India; and (b) the certifications submitted by the company on the DoL contract. Mr. Kalluru reminded Mr. Frankel that the company had sought advice on both issues from SEF and that Mr. Janacek had responded to the inquiries. Mr. Frankel had his staff at SEF pull the Janacek e-mails for review. In Virginia, a claim for legal malpractice sounds in contract. A claim for legal malpractice requires proof of (1) the existence of an attorney-client relationship that gave rise to a duty; (2) a breach of that duty by the attorney; and (3) damages proximately caused by the attorney's breach). The plaintiff bears the burden of proving all three elements. Both of the Plaintiff's claims -- the claim arising out the Janacek e-mail on the use of ReThink India on the SAM Task Order and the claim arising out of the Janacek e-mails on the use of H1-B labor on the DoL and the EEOC contracts -- allege that, had SEF asserted an advice of counsel defense (or more accurately, had SEF stayed out of the case altogether and allowed another law firm to assert an advice of counsel defense), GCE would have been in a much stronger position to defend against the government's claims. In order to establish an advice of counsel defense, the party asserting the defense must establish "(a) full disclosure of all pertinent facts to an attorney, and (b) good faith reliance on the attorney's advice." The good faith reliance element requires that the client "faithfully follow[]" the attorney's advice. The Court concludes that on the ReThink advice, GCE substantially exceeded Mr. Janacek's advice. The Court further concludes that on the H1-B labor issue, GCE ignored SEF's legal advice altogether. On the issue of causation, the Court finds that GCE sold its assets and paid a $9 million civil fine to the government because it had substantial exposure (including treble damages under the FCA, 31 U.S.C. section 3729(a)(1)) arising from its contract violations on both the SAM Task Order and the DoL and the Equal Employment Opportunity Commission contracts. SEF cannot be held liable for these violations. A full-text copy of Judge Kenney's Memorandum Opinion dated August 15, 2017, is available at https://is.gd/n1Pmge from Leagle.com. GLOBAL COMPUTER ENTERPRISES, INC., Plaintiff, represented by Elena Iuga -- eiuga@chf-law.com -- Crowley, Hoge & Fein, P.C. & David I. Swan -- dswan@mcguirewoods.com -- McGuireWoods LLP. Steese, Evans & Frankel P.C., Defendant, represented by Eric Patrick Burns -- eric.burns@wilsonelser.com -- Wilson Elser Moskowitz Edelman & Dicker, Craig Matthew LaChance -- CLaChance@frankelpllc.com -- Frankel PLLC & Robert Bruce Wallace -- bwallace@nexsenpruet.com -- Wilson Elser Moskowitz Edelman & Dicker. About Global Computer Enterprises Global Computer Enterprises, Inc., doing business as GCE, is a cloud-based "software as a service" provider, commonly referred to as a "SAAS," offering financial management solutions primarily to executive departments of the federal government and independent federal government agencies. GCE sought protection under Chapter 11 of the Bankruptcy Code (Case No. 14-13290, Bankr. E.D. Va.) on Sept. 4, 2014. The case is assigned to Judge Robert G. Mayer. The Debtor's counsel is David I. Swan, Esq., at McGuirewoods LLP, in McLean, Virginia. The Debtor's financial advisor is Weinsweig Advisors. The petition was signed by Mike Freeman, interim chief operating officer. Judge Mayer designated Mike Freeman to perform duties imposed upon GCE by the Bankruptcy Code. The U.S. Trustee for Region 4 appointed three creditors of Global Computer Enterprises, Inc. to serve on the official committee of unsecured creditors. The Committee tapped Armstrong Teasdale LLP, as its counsel and Leach Travell Britt PC as its local bankruptcy counsel. GLOBAL EMPOWERMENT: Hearing on Cash Collateral Use Set for Aug. 22 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Georgia will hold on Aug. 22, 2017, at 1:30 p.m., a hearing to consider Global Empowerment Ministries, Inc.'s request for permission to use cash collateral. The Debtor additionally leases portions of its real property to third party tenants. The Debtor's Real Property is located 1836 Rockbridge Road, Stone Mountain, Georgia 30087, and 1813 Pounds Avenue, Stone Mountain, Georgia. The Debtor generates $7,350 in monthly rental income from leasing portions of the Rockbridge Property to these three tenants: (i) Meskaye Hezunan, Medhane Alem, Ethiopian Orthodox Tewahedo Church $3,000 per month; (ii) Paradise for Living Services, Inc. $3,300 per month; and (iii) Church of All Nations $750 per month. The Debtor additionally generates approximately $16,000 per month of income from parish tithes or offerings. In order to effectively reorganize, the Debtor must have access to cash to pay its operating expenses in connection with the church and the Real Property. If the Debtor does not have the authority to use its available cash to pay its operating expenses, including personnel, utilities and general maintenance, the Debtor's going concern value will be significantly harmed and the estate and creditors will be negatively affected. Upon the Debtor's information and belief, Crimson Portfolio, LLC, asserts a first priority lien upon the Debtor's Real Property. Additionally, upon the Debtor's information and belief, Crimson asserts an interest in the Rental Income generated by the Real Property which constitutes cash collateral. The Debtor is not aware of any security interest in Debtor's tithe or offerings income held by Crimson or any UCC financing statement in favor of Crimson or its predecessors in interest. The Debtor shows that Crimson does not hold a lien or security interest in the Debtor's other income, including its income from tithes or offerings. Additionally, Sheryll Manerson holds a security interest in the Debtor's tangible personal property, but such does not extend to the Debtor's cash collateral. A copy of the Debtor's motion is available at: http://bankrupt.com/misc/ganb17-63234-10.pdf About Global Empowerment Center Based in Decatur, Georgia, The Global Empowerment Center, Inc., formerly doing business as Victory House Evangelistic Temple, is a Georgia non-profit corporation who operates a church out of its real property. Global Empowerment Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 17-63234) on July 31, 2017. The Debtor is represented by Leslie M. Pineyro, Esq., at Jones & Walden, LLC, as counsel. GOD'S HOUSE OF REFUGE: May Use Cash Collateral Until Sept. 21 ------------------------------------------------------------- The Hon. Cynthia C. Jackson of the U.S. Bankruptcy Court for the Middle District of Florida has entered a preliminary order authorizing God's House of Refuge Christian Center, Inc.'s use of cash collateral until Sept. 21, 2017. A further hearing on the Debtor's request to use cash collateral is scheduled for Sept. 21, 2017, at 2:45 p.m. The Debtor is authorized to use cash collateral to pay actual expenses of the Debtor, not to exceed: Florida Power & Light $1,200 Florida Power & Light (addtl adequate protection) 1,116 Water and Garbage Bills 800 Insurance (real property and auto) 1,085 AT & T 700 Pastor Byron Jones - labor to maintain property and act as the main pastor 1,000 Maintenance (repairs, building upkeep) 1,200 Office supplies, new and replacement equipment (Including AC units) 1,000 Security camera and alarm monitoring 178 Estimated quarterly US Trustee fee 220 Pawnee Leasing -- lien of sound equipment 227 Each creditor with a lien on cash collateral will have a postpetition lien to the same extent and with the same validity and priority as the prepetition lien, without the need to file or execute any document as may otherwise be required under bankruptcy or non-bankruptcy law. Each creditor with a security interest in cash collateral will have a perfected postpetition lien against cash collateral to the same extent and with the same validity and priority as the prepetition lien, without the need to file or execute any document as may otherwise be required under applicable non-bankruptcy law. A copy of the Order is available at: http://bankrupt.com/misc/flmb17-03291-52.pdf As reported by the Troubled Company Reporter on June 27, 2017, the Debtor has sought court permission to use cash collateral in the normal course in order to maintain its business as a going concern. The Debtor submitted that the amount of cash collateral used would only be that which is necessary for the operations of its business. About God's House of Refuge Christian Center Inc. God's House of Refuge Christian Center, Inc., operates a church and office center in Cocoa, Florida. God's House of Refuge Christian Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 17-03291) on May 19, 2017. Byron Jones, president, signed the petition. At the time of the filing, the Debtor estimated its assets and debt at $1 million to $10 million. The Debtor hired Raymond J. Rotella, Esq., at Kosto & Rotella P.A., as its legal counsel in connection with its Chapter 11 case. GOLDEN MARINA: Seeks October 24 Extension of Exclusivity Periods ---------------------------------------------------------------- Golden Marina Causeway LLC requests the U.S. Bankruptcy Court for the Northern District of Illinois to extend the exclusivity period in which only the Debtor can propose and solicit acceptances for a plan to October 24, 2017, so that it can proceed with the confirmation of its plan. The Debtor relates that it has sold its major asset: the real estate located at 302 and 311 East Greenfield in Milwaukee, Wisconsin. The Court approved the sale to the stalking horse bidder, We Energies, on April 4, 2017, and the transaction has closed. The Debtor explains that after extensive negotiations with the Anne Marie Barry Trust, its main creditor, over the terms of its plan, the Debtor has filed a plan and disclosure statement, has solicited votes on that plan, and is in the process of seeking confirmation of that plan. The Debtor's proposed plan was accepted by creditors, but objected to by Cliffs Mining Company, an alleged creditor of the Debtor's owner, East Greenfield Investors LLC. Cliffs Mining has also filed an involuntary petition against East Greenfield. The Debtor tells the Court that the parties are discussing a possible settlement of Cliffs Mining's issues that would lead to consensual confirmation of the Debtor's plan. The exclusivity period, however, will expire on August 22, 2017. Accordingly, in order that the Debtor may pursue its plan, it requests a two-month extension of the exclusive period. A hearing will be held on August 22 at 9:30 a.m. to consider the Debtor's Motion for Exclusivity Extension. About Golden Marina Causeway, LLC Golden Marina Causeway LLC owns two parcels of real estate, located at 302 and 311 East Greenfield Avenue in Milwaukee, Wisconsin. The parcel at 311 E. Greenfield consists of 47 acres and the smaller parcel at 302 E. Greenfield is approximately 1 acre. Golden Marina Causeway, LLC, based in Downers Grove, Illinois, filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 16-03587) on Feb. 5, 2016. The petition was signed by Lawrence D. Fromelius, manager. The Debtor is represented by Jeffrey K. Paulsen, Esq., at The Law Office of William J. Factor, Ltd. The Debtor also hired Nijman Franzetti LLP as special counsel. Golden Marina's case was assigned to Judge Carol A. Doyle, and later transferred to the chambers of Judge Donald R. Cassling. Golden Marina estimated assets and liabilities at $1 million to $10 million at the time of the filing. Lawrence D. Fromelius filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 15-22373) on June 29, 2015. On July 2, 2015, L. Fromelius Investment Properties LLC filed a petition for relief under Chapter 11 of the Bankruptcy Code under Case No. 15-22943. Mr. Fromelius is the sole member of Investment Properties. He is also the sole member of East Greenfield Investors LLC, which in turn is the sole member of Golden Marina Causeway LLC. GORDMANS STORES: Files Chapter 11 Plan of Liquidation ----------------------------------------------------- Gordmans Stores, Inc., and their debtor-affiliates filed with the U.S. Bankruptcy Court for the District of Nebraska a disclosure statement for their joint plan of liquidation, dated August 11, 2017, a copy of which is available at: http://bankrupt.com/misc/neb17-80304-913.pdf The Plan contemplates a liquidation of each of the Debtors and their Estates. The primary objective of the Plan is to maximize the value of recoveries to all Holders of Allowed Claims and Allowed Interests and to distribute all property of the Estates that is or becomes available for distribution generally in accordance with the priorities established by the Bankruptcy Code. The Plan appoints a Plan Administrator, who will be responsible for: (a) winding down the Debtors' businesses and affairs as expeditiously as reasonably possible; (b) resolving Disputed Claims; (c) making all distributions to Holders of Allowed Claims in accordance with the Plan; (d) pursuing or otherwise litigating any Causes of Action (other than those released pursuant to the Plan or any prior settlement approved by the Bankruptcy Court), and only to the extent the benefits of such enforcement or prosecution are reasonably believed to outweigh the costs associated therewith; (e) filing appropriate tax returns; and (f) administering the Plan in an efficacious manner. Class 4 under the plan consists of all General Unsecured Claims against any Debtor. This class will receive its Pro Rata share of Cash from the Plan Administrator Assets available to satisfy the General Unsecured Claims in accordance with the priorities set forth in the Plan if the Allowed Class 4 Claim is held by a Holder that votes to accept the Plan. Class 4 is Impaired. The Plan proposes to fund the distribution to Holders of Allowed Claims against the Debtors with the Debtors' Cash on hand, the Sale Proceeds, all Causes of Action not previously settled, released or exculpated under the Plan, the Debtors' rights under the Purchase Agreement and Agency Agreement, and the Plan Administrator Assets. About Gordmans Stores Gordmans Stores, Inc. -- http://www.gordmans.com/-- was a retail company engaged in the sale of apparel, home goods, and other merchandise. Founded in 1915, Gordmans operates 106 stores in 62 markets and 22 states throughout the United States and through e-commerce operations. Gordmans Stores, and five of its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Neb. Lead Case No. 17-80304) on March 13, 2017. Andrew T. Hall, president, CEO and secretary, signed the petitions. At the time of the filing, the Debtors disclosed $274 million in assets and $131 million in liabilities. The cases are assigned to Judge Thomas L. Saladino. The Debtors engaged Patrick J. Nash, Jr., Esq., Brad Weiland, Esq., and Jamie R. Netznik, Esq., of Kirkland & Ellis LLP, as bankruptcy counsel. The Debtors also hired Joyce A. Dixon, Esq. at Kutak Rock LLP as local counsel; Duff & Phelps as financial advisor; Clear Thinking Group LLC as restructuring advisor; and Epiq Bankruptcy Solutions LLC, as claims and noticing agent. On March 15, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Frost Brown Todd LLC, as counsel, Brian J. Koenig, Esq. at Koley Jessen, P.C., L.L.O., as local counsel; and Province Inc., as financial advisor. * * * Houston, Texas-based Stage Stores and a joint venture of liquidators Tiger Capital Group and Great American Group were declared winning bidders for Gordmans' assets at an auction in March 2017. Stage Stores said at that time it plans to operate at least 50 of Gordmans' 105 locations and keep the warehouse in Omaha as a going concern. Stage operates about 800 locations nationwide under the Peebles, Bealls and Goody's brands, among others. The winning bid amounted to $75.6 million, good enough to snare Gordmans' inventory at all stores, its fixtures, furniture, office equipment and other assets, according to a report by the Omaha World-Herald. Gordmans Stores changed its name to G-Estate Liquidation Stores, Inc., following the asset sale. GRAND VIEW: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: Grand View Financial LLC 6601 Center Drive West Suite 500-8354 Los Angeles, CA 90045 Type of Business: Financial Firm Chapter 11 Petition Date: August 17, 2017 Case No.: 17-20125 Court: United States Bankruptcy Court Central District of California (Los Angeles) Judge: Hon. Julia W. Brand Debtor's Counsel: Todd M Arnold, Esq. LEVENE, NEALE, BENDER, YOO & BRILL L.L.P. 10250 Constellation Blvd Ste 1700 Los Angeles, CA 90067 Tel: (310) 229-1234 Fax: (310) 229-1244 E-mail: tma@lnbyb.com Total Assets: $29.88 million Total Debt: $39.71 million The petition was signed by Steve Rogers, managing member. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/cacb17-20125.pdf Grand View is related to the following debtors: Debtor Case No. Date Filed ------ -------- ---------- Upscale Financial LLC 16-16472 5/17/16 Beneficial Financial Services LLC 16-11136 6/17/16 Sharp Financial LLC 16-20496 8/08/16 Premium Capital LLC 16-11730 9/19/16 Premium Capital LLC 16-11795 9/28/16 Premium Capital LLC 16-11939 10/19/16 North Park Investments LLC 16-12371 12/20/16 Upscale Financial LLC 17-15656 5/08/17 Refreshing Resources LLC 17-11075 6/14/17 Sharp Financial LLC 17-17738 6/26/17 Grand View's List of 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Robert & Pamela Gabriel Promissory Note $2,132,650 21 Richmond Hill Road Greenwich, CT 06831-2525 Lorraine Moller Promissory Note $1,258,519 2525 Arapahoe, Suite 500 Boulder, CO 80302-6720 Heather Hartig Promissory Note $759,984 324 Manor Drive Pacifica, CA 94044 Lehman Brothers 21 Richmond Hill $719,000 400 Professional Drive Greenwich, CT Gaithersburg, MD 06832 20879 Stella Tan Promissory Note $654,800 4525-4527 Lincoln Way San Francisco, CA 94122-1128 Robert & Pamela Gabriel Promissory Note $629,146 3 Sayles Street Greenwich, CT 06807-2142 E. Greg Somerville Promissory Note $482,923 4916 Saint Andrews, Drive Stockton, CA 95219-1917 James Yocum Promissory Note $447,687 3417 Danner Circle Birmingham, AL 35243 Robert & Pamela Gabriel Promissory Note $444,339 18 Sherman Avenue Greenwich, CT 06830-6046 Daniel Golden Promissory Note $438,455 21360 Crestwind Drive San Marcos, CA 92078-5000 Frankie Cheung Promissory Note $428,777 1765 Valdez Way Fremont, CA 94539-3662 Ellen & Clyde Davenport Promissory Note $402,000 5555 Thayer Lane San Ramon, CA 94582-3067 Marc & Michelle Griffith Promissory Note $396,397 6020 Heatherton Drive Somis, CA 93066-9611 Robert Burns Promissory Note $371,213 690 Heather Court Pacifica, CA 94044-2141 David & Heath Manaoat Promissory Note $348,923 102 Sonora Court Oakley, CA John & Sonja Tombarelli Promissory Note $313,890 4129 South Conklin Road Greenacres, WA 99016-6789 Angela Leung Promissory Note $288,222 3217 Acalanes Avenue Lafayette, CA 94549-3206 Leslie Edwards Promissory Note $274,764 17287 W. Summerfield Road Post Falls, ID 83854 Sunil & L. Lori Wadhwa Promissory Note $273,000 747 Sturbridge Drive Folsom, CA 95630-6166 Gary & Johanna Lohse Promissory Note $262,489 7394 N Meridian 95688-9607 GRIER BROS: Hires Tookes and Associates as Accountant ----------------------------------------------------- Grier Bros. Enterprises, Inc., has filed an amended application with the U.S. Bankruptcy Court for the Northern District of Georgia seeking approval to hire Tookes and Associates, Inc., as accountant to the Debtor. Grier Bros. requires Tookes and Associates to: a. provide the Debtor with accounting advice and services in the bankruptcy case and prepare on behalf of the Debtor documents related to accounting matters; b. compile statements of assets, liabilities, and equity- income tax basis and related statements of revenue and expenses of the Debtor on a monthly basis; c. prepare a monthly statement of revenue and expenses from the monthly bank statements of the Debtor that will ultimately be used to assist in the preparation of state and federal tax returns for the year, prepare monthly balance sheets, and provide general ledger account detail; d. advise and assist the Debtor with regard to the preparation and filing of tax returns that may be required, provide assistance, advice and consultation with regard to state and federal income taxes, and prepare federal and state income tax returns for the Debtor and the annual statements of assets, liabilities, and equity-income tax basis; e. prepare bi-weekly payroll statements and process checks; f. review the books and records of the Debtor and analyze and verify accounts with regard to the assets, liabilities, financial affairs, and financial obligations of the Debtor; and g. perform all other necessary accounting services that may be required as accountants to the Debtor or to assist attorneys for the Debtor in the performance of the duties of the Debtor and give all other necessary accounting advice to the Debtor in connection with the Chapter 11 case. Tookes and Associates will be paid as follows: -- Monthly financial statements $2,000 per month -- One time set up fee $250 -- Corporate tax returns $1,500 Tookes and Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Quintin Tookes, CEO of Tookes and Associates, Inc., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Tookes and Associates can be reached at: Quintin Tookes TOOKES AND ASSOCIATES, INC. 295 Stoneleigh Drive Atlanta, GA 30331 Tel: (404) 794-6144 Fax: (770) 621-2667 About Grier Bros. Enterprises, Inc. Based in Atlanta, Georgia, Grier Bros. Enterprises, Inc., provides trucking or transfer services. Grier Bros. Enterprises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 17-56817) on April 13, 2017. The petition was signed by Wayne Grier, president. The Debtor estimated its assets and debts at $1 million to $10 million. Herbert C. Broadfoot, II, Esq., at Herbert C. Broadfoot II, PC, serves as the Debtor's bankruptcy counsel. GTT COMMUNICATIONS: S&P Affirms 'B+' CCR, Outlook Negative ---------------------------------------------------------- S&P Global Ratings affirmed its 'B+' corporate credit rating on McLean, Va.-based GTT Communications Inc. The outlook is negative. S&P said, "At the same time, we raised our issue-level rating on the company's senior secured debt to 'BB-' from 'B+' and revised the recovery rating to '2' from '3'. The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 75%) recovery of principal and interest for secured lenders in the event of payment default. We removed the senior secured debt rating from CreditWatch, where we had placed it with positive implications on May 25, 2017. "We also affirmed our 'B-' issue-level rating on GTT's senior unsecured debt. The recovery rating on the unsecured debt remains at '6', indicating our expectation for negligible (0%-10%; rounded estimate: 5%) recovery of principal in the event of a payment default. "The rating upgrade of the senior secured debt follows a review of our recovery analysis based on our expectation that full proceeds from the $150 million add-on to GTT's senior unsecured notes will be used to fund the acquisitions of Perseus and Global Capacity. The more favorable recovery rating on the secured debt reflects our assessment that the increased value available to secured creditors from the acquisitions, which were mostly funded with unsecured debt, results in improved recovery prospects for secured creditors in our hypothetical default scenario. "The negative outlook reflects our view that credit metrics are currently weak for the rating, including debt to EBITDA in the high-5x area on an annualized basis. While we expect some earnings growth through the realization of synergies over the next year, there is limited cushion at the current rating for debt-financed acquisitions or operational missteps. "We could lower the rating if operating and financial performance deteriorates because of increased competitive pressures, or if the company experiences execution missteps from the integrations of recent acquisitions, which results in the loss of market share or margin compression. We could also lower the rating if GTT makes another debt-financed acquisition that results in leverage remaining above 5x. "We could revise the outlook to stable over the next 12 months if the company is able to successfully integrate its recent acquisitions and we believe that it would maintain leverage below 5x on a sustained basis." HAHN HOTELS: Wants to Use Cash Collateral Through Dec. 2 -------------------------------------------------------- Hahn Hotels of Sulphur Springs, LLC, et al., seek authorization from the U.S. Bankruptcy Court for the Eastern District of Texas to continue using cash collateral of prepetition lenders Austin Bank, First National Bank of Hughes Springs, Texas Bank and Trust Company, Texas National Bank, Pilgrim Bank, and the Small Business Association from Sept. 3, 2017, through Dec. 2, 2017. The Debtors grant the Prepetition Lenders replacement liens in property acquired by the Debtors after the Petition Date, which is of the same nature, kind and character as the prepetition collateral, and all proceeds and products thereof solely to secure any diminution in the interests of the Prepetition Lenders resulting from the use of the cash collateral; provided, however, the replacement liens will not encumber any claims or causes of action arising under Chapter 5 of the U.S. Bankruptcy Code and all proceeds and products thereof. If and to the extent the adequate protection of the interests of the Prepetition Lenders under the third cash collateral court order proves insufficient, the Prepetition Lenders will have, among other remedies, if any, determined by the Court, an allowed claim under Section 507(b) of the Bankruptcy Code in the amount of any insufficiency. The Debtors believe that the asset value of each property securing the repayment obligations on debt owed to the Prepetition Lenders is greater than the amount of the debt. The Debtors submit that, under the circumstances, the equity cushion in the assets securing the repayment obligations on the Prepetition Lenders' debt adequately protects the Prepetition Lenders from any diminution of their interests in the cash collateral resulting from use. A copy of the Debtors' Motion is available at: http://bankrupt.com/misc/txeb17-40947-175.pdf As reported by the Troubled Company Reporter on July 7, 2017, the Court previously authorized the Debtors to use cash collateral for the time period from July 9, 2017, through Sept. 2, 2017. About Hahn Hotels Headquartered in Sulphur Springs, Texas, Hahn Hotels of Sulphur Springs, LLC, owns the La Quinta Inns and Suites, which provides hotel accommodations for business and leisure travelers across the United States, Canada, and Mexico. Hahn Hotels of Sulphur Springs, LLC, along with its affiliates, including Hahn Investments, LLC, sought Chapter 11 protection (Bankr. E.D. Tex. Lead Case No. 17-40947) on May 1, 2017. The petitions were signed by Dante Hahn, president. Judge Brenda T. Rhoades presides over the cases. Hahn Hotels of Sulphur estimated its assets and liabilities of between $1 million and $10 million. Hahn Investments estimated its assets and liabilities of between $10 million and $50 million. Jessica Leigh Voyce Lewis, Esq., and Judith W. Ross, Esq., at The Law Offices of Judith W. Ross and Eric Soderlund, Esq., who has an office in Dallas Texas, serve as the Debtors' bankruptcy counsel. HARDROCK HDD: Exclusive Plan Filing Period Extended to Oct. 12 -------------------------------------------------------------- The Hon. Phillip J. Shefferly of the U.S. Bankruptcy Court for the Eastern District of Michigan has extended, at the behest of HardRock HDD, Inc., and its affiliated-debtors, their exclusive deadlines to file a plan of reorganization, until Oct. 12, 2017, and to solicit acceptances thereof until Dec. 12, 2017. The deadline for the Debtors to file a combined plan and disclosure statement is extended from Aug. 28, 2017, to Oct. 12, 2017. As reported by the Troubled Company Reporter on Aug. 7, 2017, the Debtors asked for the extension, assuring the Court that they are, among other things, making progress towards the stabilization of their income, as is necessary for the development of their financial projections and their funding of the plan, and exploring options for the funding of a plan which would enable them to accelerate payment in comparison with a plan which is wholly dependent upon the Debtors' earnings. About Hardrock HDD Hardrock HDD, Inc., is a privately held utility contractor based in Jackson, Michigan. Affiliates HardRock HDD, Inc. (Bankr. E.D. Mich. Case No. 17-46425), Patrick Leasing, L.L.C. (Bankr. E.D. Mich. Case No. 17-46440), and Patrick Horizontal Drilling, L.L.C. (Bankr. E.D. Mich. Case No. 17-46446) filed for Chapter 11 bankruptcy protection on April 28, 2017. The petitions were signed by Jeffery Patrick, its authorized agent. Judge Phillip J. Shefferly presides over the cases. Thomas R. Morris, Esq., at Silverman & Morris, P.L.L.C., serves as the Debtors' bankruptcy counsel. HardRock HDD disclosed that it had estimated assets and liabilities of $1 million to $10 million. Patrick Leasing had estimated assets of less than $1 million and liabilities of $1 million to $10 million. Patrick Horizontal had estimated assets of less than $500,000 and liabilities of $1 million to $10 million. HARRINGTON & KING: Agreed Cash Collateral Use Entered ----------------------------------------------------- The Hon. Deborah L. Thorne of the U.S. Bankruptcy Court for the Northern District of Illinois has entered an agreed order extending Harrington & King Perforating Co. and Harrington & King South Inc.'s use of cash collateral through Aug. 18, 2017. The motion is continued to Aug. 17, 2017, at 10:00 a.m. A copy of the court order is available at: http://bankrupt.com/misc/ilnb16-15650-250.pdf As reported by the Troubled Company Reporter on Aug. 4, 2017, the Court previously extended the Debtors' cash collateral use through Aug. 4, 2017. About The Harrington & King The Harrington & King Perforating Co., Inc., and Harrington & King South Inc. are in the business of manufacturing perforating metal sheets and rolled coils of varying gauges and types to produce hole patterns of various sizes, shapes, and spacing. Most of the work is done to customer specifications and consists of high value-added jobs, not typical of most metal punching. The products are used in automotive, acoustics, architecture, food and pharmaceutical straining and filtering, interior design, manufacturing, safety flooring, pollution control, transportation and mining cleaning and grading, electronics and other fields. Harrington & King Perforating Co. and Harrington & King South sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case Nos. 16-15650 and 16-15651) on May 7, 2016. The petitions were signed by Greg McCallister, chief restructuring officer and chief operating officer. The cases are jointly administered under Case No. 16-15650. The Debtors each estimated assets and liabilities in the range of $1 million to $10 million. The cases are assigned to Judge Deborah L. Thorne. The Debtors engaged The Law Office of William J. Factor, Ltd., as bankruptcy counsel. The Debtors tapped Ulmer & Berne LLP as special counsel; Spiegel & Cahill, P.C., as special workers' compensation counsel; Beacon Management Advisors LLC as financial advisor; and Cushman & Wakefield of Illinois, Inc. as real estate broker. The official committee of unsecured creditors hired Goldstein & McClintock LLLP as its legal counsel and Conway MacKenzie, Inc., as its financial advisor. On April 11, 2017, the Debtors filed a disclosure statement and Chapter 11 plan of reorganization. HD SUPPLY: S&P Puts 'BB' Term Loan B-1 Rating on Watch Positive --------------------------------------------------------------- S&P Global Ratings placed its 'BB' issue-level rating on HD Supply Inc.'s term B-1 loan due 2021 on CreditWatch with positive implications. S&P said, "The '3' recovery rating on the loan remains unchanged, indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. "Our 'BB' issue-level rating on the company's senior secured term B-2 loan due 2023 remains on CreditWatch, where we placed it with positive implications on June 6, 2017. "The CreditWatch positive placement on HD Supply's term B-1 loan reflects our expectation for improved recovery prospects for lenders when incorporating the company's planned repayment of its $1.25 billion first-lien senior secured notes due 2021 using the proceeds from the recent sale of its Waterworks business. We plan to withdraw our issue-level and recovery ratings on the senior secured first-lien notes once the debt has been repaid (which we expect to occur on Sept. 1, 2017). At that time, we will also raise our issue-level rating on the company's term B-1 and B-2 loans to 'BB+' and revise our recovery rating on the loans to '2'. "We had previously expected HD Supply to use a portion of the proceeds from the Waterworks sale to repay its term B-1 loan. However, we now expect that the company will retain a greater portion of the sale proceeds, which will provide it with increased flexibility to use the proceeds for general corporate purposes, such as shareholder returns. Additionally, the company announced today that it is seeking an amendment to its senior unsecured notes indenture to allow for additional capacity to make restricted payments of $500 million and, thereafter, an unlimited amount provided that the company's pro forma leverage does not exceed 3.0x. We believe that the company could utilize the increased allowance under the restricted payments basket for share repurchases, which it may fund with excess cash and borrowings from its asset-based lending (ABL) facility. "We expect HD Supply to pursue growth investments and potential acquisitions, although the size and timing of any future acquisitions is uncertain. We estimate that the company's pro forma adjusted debt-to-EBITDA will improve to around 3x as of the end of fiscal-year 2017 (ending Jan. 28, 2018) from the low-4x area as of Jan. 29, 2017. We expect that management will maintain a balanced approach to potential shareholder rewards or acquisitions such that the company's adjusted debt leverage remains around 3x over the longer term." RATINGS LIST HD Supply Inc. Corporate Credit Rating BB/Stable/-- CreditWatch Action; Recovery Rating Unchanged To From HD Supply Inc. Senior Secured $850M Term Ln B-1 Due 2021 BB/Watch Pos BB Recovery Rating 3(50%) 3(50%) HEALTH CARE TEMPORARIES: Unsecureds to be Paid $2.5K Annually ------------------------------------------------------------- Health Care Temporaries, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a small business disclosure statement describing its chapter 11 plan of reorganization. Class 6 under the plan is comprised of all Allowed General Unsecured Claims against HCT. Holders of Allowed General Unsecured Claims will be paid Pro Rata in cash from yearly payments of $2,500 commencing Jan. 2, 2017 and with yearly payments reoccurring every 2nd of January for a term of five years. Payments and distributions under the Plan will be funded by HCT's existing Cash on hand, future income from ongoing operations, and cash injection from D.Anne Woods, HCT's Secretary and Vice President of Operations. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/txsb17-30919-49.pdf Attorneys for the Debtor: Adam Corral Susan Tran Brendon Singh 1010 Lamar, Suite 1160 Houston TX 77002 Tel: (832) 975-7300 Fax: (832) 975-7301 E-mail: Susan.Tran@ctsattorneys.com About Health Care Temporaries Health Care Temporaries, Inc., filed a Chapter 11 bankruptcy petition (Bankr. S.D.Tex. Case No. 17-30919) on Feb. 12, 2017. Susan Tran, Esq., at Corral Tran Singh, LLP, serves as bankruptcy counsel. The Debtor's assets and liabilities are both below $1 million. HELIOS AND MATHESON: Incurs $5.22 Million Net Loss in 2nd Quarter ----------------------------------------------------------------- Helios and Matheson Analytics Inc. filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss of $5.22 million on $1.14 million of revenue for the three months ended June 30, 2017, compared to a net loss of $124,241 on $1.85 million of revenue for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss of $11.71 million on $2.49 million of revenue compared to a net loss of $274,655 on $3.88 million of revenue for the same period a year ago. As of June 30, 2017, Helis and Matheson had $12.75 million in total assets, $2.06 million in total liabilities and $10.68 million in total shareholders' equity. During the three and six months ended June 30, 2017, the Company's revenue declined by approximately 39% and 36% from the previous periods and the Company incurred a net loss of approximately $5.2 million and $11.7 million, respectively, as compared to a net loss of approximately $0.1 million and $0.3 million respectively during the three and six months ended June 30, 2016. The net losses are primarily driven by a decrease in gross profit margin of approximately $0.3 million and $0.6 million, an expense of approximately $1.9 million related to shares issued for services, an increase in amortization of approximately $0.4 million and $0.9 million related to intangible assets acquired in conjunction with the Zone acquisition, and interest expense of approximately $1.9 million and $3.6 million related to accretion of derivative instruments. The Company's cash balances were approximately $1.4 million at June 30, 2017, and approximately $2.7 million at Dec. 31, 2016. Net cash used in operating activities for the six months ended June 30, 2017, was approximately $4.9 million compared to net cash provided by operating activities of approximately $0.5 million for the six months ended June 30, 2016. Net cash provided by operating activities primarily relates to a net loss of approximately $11.7 million offset by non-cash adjustments of approximately $3.6 million related to accretion of debt discount, approximately $1.9 million related to shares issued in exchange for services, and approximately $0.9 million related to depreciation and amortization expense. The Company's accounts receivable, less allowance for doubtful accounts, at June 30, 2017 and at Dec. 31, 2016, were approximately $0.4 million and $0.4 million, respectively, representing 52 days and 52 days of sales outstanding respectively. The Company has provided an allowance for doubtful accounts at the end of each of the periods presented. After giving effect to this allowance, the Company does not anticipate any difficulty in collecting amounts due. For the six months ended June 30, 2017, net cash used in investing activities was $295,507 as compared to net cash provided of $867 for the six months June 30, 2016. For the six months ended June 30, 2017, net cash provided by financing activities was $3.9 million as compared to $0 for the six months ended June 30, 2016. In management's opinion, there is substantial doubt about the Company's ability to continue as a going concern through one year after the issuance of the accompanying financial statements. A full-text copy of the Form 10-Q is available for free at: https://is.gd/fDr6h4 About Helios and Matheson Helios and Matheson Analytics Inc. (NASDAQ: HMNY) provides information technology consulting, training services, software products and an enhanced suite of services of predictive analytics. Servicing Fortune 500 corporations and other large organizations, HMNY focuses mainly on BFSI technology verticals. HMNY's solutions cover the entire spectrum of IT needs, including applications, data, and infrastructure. HMNY is headquartered in New York, NY and listed on the NASDAQ Capital Market under the symbol HMNY. For more information, visit us www.hmny.com. Helios and Matheson reported a net loss of $7.38 million for the year ended Dec. 31, 2016, a net loss of $2.11 million for the year ended Dec. 31, 2015, and a net loss of $177,712 for the year ended Dec. 31, 2014. HOME EXPERT: Hires Patrick Christopher as Attorney -------------------------------------------------- Home Expert Development Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of New York to employ Patrick Christopher, P.C., as attorney to the Debtor. Home Expert requires Patrick Christopher to: a. assist the Debtor in administering the case; b. make such motions or take such action as may be appropriate or necessary under the Bankruptcy Code; c. take such steps as may be necessary for the Debtor to marshall and protect the estate's assets; d. negotiate with the Debtor's creditors in formulating a plan of reorganization for the Debtor in the case; e. draft and prosecute the confirmation of the Debtor's plan of reorganization in the bankruptcy case; and f. render such additional services as the Debtor may require in the bankruptcy case. Patrick Christopher will be paid at the hourly rate of $350. Patrick Christopher was paid an initial retainer in the amount of $3,000, excluding filing fee. The firm will be paid additional $3,500 retainer during the course of the bankruptcy case. Patrick Christopher will also be reimbursed for reasonable out-of-pocket expenses incurred. Patrick Christopher, a member of Patrick Christopher, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Patrick Christopher can be reached at: Patrick Christopher, Esq. PATRICK CHRISTOPHER, P.C. 200 Broadhollow Road, Suite 207 Melville, NY 11747 Tel: (718) 835-3300 E-mail: Patrick@pchristopherlaw.com About Home Expert Development Inc. Home Expert Development Inc. filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 17-42962) on June 7, 2017. The petition was signed by Eldad Cohen, president. At the time of filing, the Debtor estimated assets and liabilities ranging between $500,000 and $1 million. Judge Nancy Hershey Lord is assigned to the case. The Debtor is represented by Patrick Christopher, Esq., at Patrick Christopher P.C. No trustee or examiner has been appointed in this case, nor has an official committee of unsecured creditors been established. ILIANA NEUROSPINE: Hires Newpoint Advisors as Financial Advisors ---------------------------------------------------------------- Iliana Neurospine Institute, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Indiana to employ Newpoint Advisors Corporation, as financial advisor to the Debtor. Iliana Neurospine requires Newpoint Advisors to: a. determine viability of the Debtor's business, and achievability of any existing or to be developed operating plan and cash flow projections. Newpoint Advisors will assist the Debtor in revising or developing said plan and projections; b. evaluate causes of liquidity and profitability concerns to test for viability and opportunity; c. calculate the value of the Debtor's business based on projected income discounted to present value; d. deliver report of findings on plan projections and feasibility analysis; e. work with the Debtor to review final findings; f. work with the Debtor to discuss and review Newpoint Advisors's evaluations, analyses and findings with respect to the business and various alternatives, including Newpoint Advisors's recommendations on a course of action. Newpoint Advisors will be paid at the hourly rate of $225, and will be capped at $15,000. The Firm will be paid a retainer in the amount of $15,000. Newpoint Advisors will also be reimbursed for reasonable out-of-pocket expenses incurred. Ken Yager, president of Newpoint Advisors Corporation, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Newpoint Advisors can be reached at: Ken Yager NEWPOINT ADVISORS CORPORATION 1320 Tower Road Schaumburg, IL 60173 Tel: (312) 656-9750 About Iliana Neurospine Institute, LLC Iliana Neurospine Institute, LLC dba Illinois Neurospine Institute fdba successor by merger to Illinois Neurospine Institute, LLC filed a chapter 11 petition (Bankr. N.D. Ind. Case No. 16-23444) on Dec. 8, 2016. The petition was signed by Ronald Michael, M.D., managing member. The Debtor initially hired Gordon E. Gouveia, Esq., at Gordon E. Gouveia, LLC, as general bankruptcy counsel. The firm was later replaced by Shaw Fishman Glantz & Towbin LLC, as counsel. Gouveia & Associates continues to serve as counsel for Ronald Michael, M.D., the Debtor's managing member, in his related chapter 11 case (no. 16-23334). Newpoint Advisors Corporation serves as its financial advisor. The Iliana Neurospine Institute case is assigned to Judge Philip J. Klingeberger. The Debtor estimated assets and liabilities at $1 million to $10 million at the time of the filing. Illinois Neurospine Institute, P.C., was an Illinois professional corporation. On July 22, 2014, the assets of Illinois Neurospine Institute were merged into Iliana Neurospine Institute, LLC, which is the surviving entity. Prior to the merger, Ronald Michael, M.D. was the president and employee of Illinois Neurospine Institute, and owned 100% of its outstanding shares. The Debtor owns 100% of the membership interest of Iliana Neurospine Institute. The Debtor is the entity through which Dr. Michael provides healthcare services, resulting in the creation of accounts receivable that funds its business operations. It is also the primary source of the Debtor's income. Dr. Michael is a board certified specialist in neurological surgery. He earned A.B. and S.M. degrees from the University of Chicago in Biological Sciences and Biochemistry, respectively in 1981 and 1984. Dr. Michael graduated from the University of Illinois, Chicago College of Medicine in 1986 and completed residency in neurological surgery at Northwestern University in 1993. Dr. Michael has been practicing medicine for approximately 30 years including seven years of residency training. The bulk of Dr. Michael's work involves spine surgery. He treats patients suffering from a variety of debilitating ailments, including degenerative and traumatic disc disease. Dr. Michael helps his patients manage their pain and improve their overall life. INFOMOTION SPORTS: Trustee Taps Verdolino as Expert Witness ----------------------------------------------------------- The liquidating trustee for InfoMotion Sports Technologies, Inc. received approval from the U.S. Bankruptcy Court in Massachusetts to hire Verdolino & Lowey, P.C. David Madoff, the court-appointed trustee, tapped the firm to provide expert advice in connection with two preference actions (Adversary Proceeding Nos. 17-01061 and 17-01062) he filed against the Debtor's insiders Michael Crowley and Thomas Crowley. Craig Jalbert, a principal of Verdolino, disclosed in a court filing that he and other members of his firm are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig Jalbert Verdolino & Lowey, P.C. 124 Washington Street Foxboro, MA 02035 Phone: (508) 543-1720 About InfoMotion Sports InfoMotion Sports Technologies, Inc. -- http://www.infomotionsports.com/-- sought chapter 11 protection (Bankr. D. Mass. Case No. 16-10724) on March 1, 2016. The petition was signed by Michael Crowley, CEO. The Debtor is represented by Warren E. Agin, Esq., at Swiggart & Agin, LLC, in Boston. The case is assigned to Judge Joan N. Feeney. At the time of the filing, the Debtor estimated its assets and debt at less than $10 million. On December 19, 2016, the court confirmed the Debtor's Chapter 11 plan of reorganization. David B. Madoff, Esq., was appointed as liquidating trustee pursuant to the plan. INNOVOSCIENCES LLC: Taps Joseph J. D'Agostino as Legal Counsel -------------------------------------------------------------- InnovoSciences LLC seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to employ Attorney Joseph J. D'Agostino, Jr., LLC to, among other things, give legal advice regarding its duties under the Bankruptcy Code; assist in its financial transactions; and give advice on all aspects of a plan of reorganization. Joseph D'Agostino, Jr., Esq., will charge an hourly fee of $350 while his support staff will charge $100 per hour. The firm received a retainer of $5,000 prior to the petition date. Mr. D'Agostino disclosed in a court filing that his firm is "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Joseph J. D'Agostino, Jr., Esq. Attorney Joseph J. D'Agostino, Jr., LLC 1062 Barnes Road, Suite 304 Wallingford, CT 06492 Tel: (203) 265-5222 Fax: 203-265-5236 Email: joseph@lawjjd.com About InnovoSciences LLC InnovoSciences LLC -- http://www.innovosci.com/-- is a privately held company committed to solving problems in healthcare through innovation. Its core focus is on the development of technologies in the field of aerosol generation and surgical instruments. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 17-50946) on August 3, 2017. It is a small business Debtor as defined in 11 U.S.C. Section 101(51D). Michael Breede, managing member, signed the petition. At the time of the filing, the Debtor disclosed $98,241 in assets and $2.52 million in liabilities. Judge Julie A. Manning presides over the case. INSTITUTE OF CARDIOVASCULAR: Wants to File Ch. 11 Plan by Nov. 13 ----------------------------------------------------------------- Institute of Cardiovascular Excellence, PLLC, and its debtor-affiliates request the U.S. Bankruptcy Court for the Middle District of Florida to extend for 90 days the exclusive periods within which only the Debtors may propose a Plan and may solicit acceptances to its Plan, through November 13 and January 15, 2018, respectively. This is the Debtors' fourth request for an extension of the exclusivity periods. Absent the requested extension, the Debtors had until August 14 to exclusively file a plan of reorganization and until October 16 to solicit acceptances of a plan. The Debtors relates that the sale process of the Debtors' assets has been completed. However, the Debtors continue to examine claims and possible objections, and said dispositions will have material impacts on the plan. In addition, the Debtors are attempting to collect all receivables for the estate. The Debtors claim that they will be in a better position to determine whether significant distributions to unsecured creditors will be made once the funds retrieved are more certain, and the administrative costs are ascertained. Therefore, the Debtors are requesting additional time in which to formulate a plan. About Institute of Cardiovascular Excellence, PLLC Institute of Cardiovascular Excellence, PLLC, based in Ocala, Florida, filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 16-01491) on April 20, 2016. The petition was signed by Asad Qamar, manager. Judge Jerry A. Funk presides over the case. The Debtor estimated $0 to $50,000 in assets and $10 million to $50 million in liabilities at the time of the filing. The Debtor is represented by Aaron A Wernick, Esq., at Furr & Cohen, PA. The Debtor employed Jameson Vicars of Jameson Vicars & Co., CPAS as Accountant; Tracy Mabry Law, PA. as special counsel; and Ackerman, LLP as special transactional counsel. No official committee of unsecured creditors has been appointed in the case. IRASEL SAND: Taps Dean W. Greer as Legal Counsel ------------------------------------------------ Irasel Sand, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to employ the Law Offices of Dean W. Greer to, among other things, give legal advice regarding its duties under the Bankruptcy Code and assist in the preparation of a plan of reorganization. Dean William Greer, Esq., the attorney who will be handling the case, will charge an hourly fee of $300. Legal assistants will charge $75 per hour. The firm received a retainer of $25,000, of which $1,500 was used to pay its pre-bankruptcy services and $1,717 for the filing fee. Mr. Greer disclosed in a court filing that he is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Dean William Greer, Esq. Law Offices of Dean W. Greer 2929 Mossrock, Suite 117 San Antonio, TX 78230 Tel: 210-342-7100 Fax: 210-342-3633 Email: dwgreer@sbcglobal.net About Irasel Sand LLC Based in Dilley, Texas, Irasel Sand, LLC is a company that was organized in 2014 as a joint venture between Irabel, Inc. and Select Sand LLC. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 17-51420) on June 19, 2017. Louis R. Butler, CEO of managing member, signed the petition. At the time of the filing, the Debtor disclosed that it had estimated assets and liabilities of $1 million to $10 million. Judge Ronald B. King presides over the case. The Debtor previously filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 17-31148) on Feb. 27, 2017. JAMES ARRIGAN: Kudair Buying Interest in Katy Property for $162K ---------------------------------------------------------------- James W. Arrigan asks the U.S. Bankruptcy Court for the Northern District of Texas to authorize to sell his interest in his residential rental property located at 3314 Bent Sprint Court, Katy, Texas, to Hussain Kudair for $162,000. The Debtor wishes to sell his interest to allow him to fund his Chapter 11 Reorganization. The liens on the property, held by the lenders and the taxing authority, will be paid in full. The sale will allow the Debtor to be free and clear of this asset and allow him to use the net proceeds to continue paying for his Chapter 11 Bankruptcy. A copy of the Sale Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/James_Arrigan_35_Sales.pdf Counsel for the Debtor: Craig D. Davis, Esq. Robert W. Roberts, Esq. Craig Douglas Davis DAVIS, ERMIS & ROBERTS, P.C. 1010 N. Center, Suite 100 Arlington, TX 76011 Telephone: (972) 263-5922 Facsimile: (972) 262-3264 James Arrigan sought Chapter 11 protection (Bankr. N.D. Tex. Case No. 13-43082) on July 1, 2013. JN MEDICAL: Needs Additional 90 Days to Solicit Plan Votes ---------------------------------------------------------- JN Medical Corporation requests the U.S. Bankruptcy Court for the District of Nebraska to extend the period within which it has the exclusive right to solicit acceptances to a chapter 11 plan of reorganization for an additional 90 days. In addition to the Chapter 5 causes of action that the Debtor will be pursuing against its former CEO, as well as investigating other possible claims, the Debtor tells the Court it will be seeking a determination as to the scope and extent of Auro Vaccines, LLC's claim and claimed liens -- which is a rare case, in which the Debtor is dealing with a creditor/competitor who does not want to be repaid yet who may in fact not be owed any money from the Debtor and/or may have already been paid in full under applicable state law. The Debtor alleges that resolution of these issues will involve the interpretation of both state and federal bankruptcy law. Moreover, the Debtor claims that the shear amount of discovery that has occurred to date highlights the complexity of this matter, and to that end, additional discovery will be needed from Auro and number of other third parties. The Debtor claims that it has filed its plan and has begun the process of negotiating with creditors on what, if any, changes to the plan might be needed. The Debtor also says it has executed a term sheet with the proposed licensee and is now engaged in regular discussions on a final licensing agreement -- a draft of which are currently being negotiated and revised in real time. Moreover, the Debtor asserts that it is actively exploring options for moving its assets and operations following confirmation and in the event it cannot reach an agreement with Auro regarding the use and occupancy of the Debtor's former facility. Accordingly, the Debtor seeks additional time to allow it opportunity to move through the confirmation process without having to simultaneously fight Auro on any competing plan it may file. About JN Medical Corporation JN Medical Corporation, a company based in Omaha, Nebraska, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Neb. Case No. 17-80174) on Feb. 15, 2017. The petition was signed by Kevin Aramalla, president. The case is assigned to Judge Thomas L. Saladino. Stinson Leonard Street LLP is the Debtor's legal counsel. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. JOBY HURST: Hires C. Taylor Crockett as Attorney ------------------------------------------------ Joby L. Hurst, D.M.D., M.S., P.C., seeks authority from the U.S. Bankruptcy Court for the Northern District of Alabama to employ C. Taylor Crockett, P.C., as attorney to the Debtor. JOBY HURST D.M.D. M.S. P.C. requires C. Taylor Crockett to: a. provide the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the continued management of its financial affairs and property; b. prepare on behalf of the Debtor necessary schedules, lists, applications, motions, answers, orders, and reorganization papers as is or may become necessary; c. review all leases and other corporate papers and prepare any necessary motions to assume unexpired leases or executory contracts and assist in preparation of corporate authorization and resolutions regarding the Chapter 11 case; and d. perform any and all other legal services for the Debtor as Debtor-in-Possession as may be necessary to achieve confirmation of Chapter 11 Plan of Reorganization. C. Taylor Crockett will be paid at the hourly rate of $375. The Firm will be paid a retainer in the amount of $12,500, and $1,717 filing fee. It will also be reimbursed for reasonable out-of-pocket expenses incurred. C. Taylor Crockett, member of C. Taylor Crockett, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. C. Taylor Crockett can be reached at: C. Taylor Crockett, Esq. C. TAYLOR CROCKETT, P.C. 2067 Columbiana Road Birmingham, AL 35216 Tel: (205) 978-3550 E-mail: taylor@taylorcrockett.com About Joby L. Hurst, D.M.D., M.S., P.C. Joby Hurst, D.M.D., M.S., P.C., filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ala. Case No. 17-03199) on July 28, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by C. Taylor Crockett, Esq., at C. Taylor Crockett, P.C. JT TRANSIT: Court Confirms Chapter 11 Plan of Reorganization ------------------------------------------------------------ Judge Craig A. Gargotta of the U.S. Bankruptcy Court for the Western District of Texas approved JT Transit, LLC's small business amended disclosure statement and confirmed its first amended plan of reorganization. The Debtor is directed to apply the following provisions with respect to Security Service Federal Credit Union's Class 2 Claim: 1. The Debtor will pay one monthly payment for all 4 units of collateral identified in Class 2 equal to the total of the mini payments that are currently specified in Class 2. 2. If an event of default occurs, the discharge injunction is immediately lifted to permit SSFCU to repossess and foreclose all 4 of the units of collateral identified for Class 2. 3. The Debtors monthly plan payment to SSFCU shall be due on or before the 25th day of each month, beginning August 25, 2017, with no grace period and no default notice. 4. The Debtor will keep all of the collateral specified in Class 2 insured and provide proof of such insurance as required by the loan documents. 5. The Debtor will maintain the collateral specified in Class 2 at all times and permit the SSFCU to inspect each unit on a quarterly basis. In this connection, JT Transit will establish a separate bank account that will serve as a reserve maintenance fund. Each month the Debtor shall deposit $1,500 into the account, which money may only be used for maintaining or repairing the collateral. The Debtor will provide SSFCU a copy of the bank statements and checks from this account on a quarterly basis beginning Sept. 30, 2017. It is understood that there will be variances in the amount of maintenance or repairs due each month; however, each 12 month time period from the date of confirmation, the average amount set aside for maintenance and repairs on the collateral shall be at least $1,500 per month. Failure to insure or maintain the collateral shall also be events of default. Alternatively, if the Debtor is operating through a lease agreement for all or part of the collateral, and deductions are made for maintenance and repair costs, this amount may be used to satisfy the requirement for the $1,500 deposit, so long as JT Transit provides records of such deductions. 6. Except to the extent modified by the Debtor's Plan or this Order, the provisions of the loan documents evidencing the Class 2 claim shall be in force between the Debtor and SSFCU. It is also ordered that the total distribution to Class 5 creditors is clarified as follows: all Class 5 creditors that did not make the election to reduce their claims to $1,000 shall receive 1/2 of 1% of the allowed amount of each of their claims. About JT Transit JT Transit, LLC, is a corporation based in San Antonio, Texas, which has been involved in the transportation and hauling industry since November, 2012. JT operates primarily in the State of Texas and, at times, in surrounding states, primarily transporting frac sand. JT operates up to 6 trucks and trailers at any given time. JT Transit sought Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-51994) on Sept. 5, 2016. The petition was signed by Kenneth W Newman, member. The Debtor estimated assets at $100,000 to $500,000 and liabilities at $1 million to $10 million. The case is assigned to Judge Craig A. Gargotta. The Debtor is represented by Anthony H. Hervol, Esq., at the Law Office of Anthony H. Hervol. JUBEM INVESTMENTS: Wants to Use Cash Collateral to Fund Operations ------------------------------------------------------------------ Jubem Investments, Inc., seeks permission from the U.S. Bankruptcy Court for the Southern District of Texas to use cash collateral to fund postpetition operations. The Debtor tells the Court that it has immediate needs requiring the use of cash collateral for building inventory, paying employees, and operating its restaurant. Prior to filing this petition, the Debtor's secured debts consisted of the Debtor's real property securing the Cache debt, which is a blanket lien over all of the Debtor's assets, including cash collateral. All other debts appear to be unsecured. Cache's secured interest will be adequately protected by a replacement lien to the same extent and priority as their prepetition lien and by reasonable adequate protection payments. The Debtor proposes treating the Cache claim as fully secured at the estimated claim amount of $2,385,000 and paying interest only payments at 6.5% ($12,900 monthly). In the conduct of the Debtor's business it must pay for supplies needed for operation of the business, pay taxes on the business property, have funds necessary to pay for repairs on the property, fund its reorganization effort, and make employee payroll. The Debtor proposes to grant the lender a replacement lien on post-petition cash collateral to the extent its interest is secured by the Debtor's assets, a recognized method for providing adequate protection as specified under Sections 361 and 363. The Debtor warns that without access to cash collateral, it may be unable to build sufficient inventory to meet customer demand, fail to pay taxes when they come due or make necessary repairs to the property at issue. Furthermore, Debtor may fail to make employee payroll resulting in the loss of employees, and hindering its reorganization efforts. The going concern of the Debtor's assets may plummet. From that standpoint, the overall collateral position of the secured creditor will deteriorate markedly, more than offsetting any erosion of the cash collateral. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/txsb17-10288-5.pdf About Jubem Investments Jubem Investments, d/b/a Buffalo Wings & Rings, is a privately held company in San Juan, Texas. Its principal place of business is located at 3600 E. Las Malpas Road Hidalgo, TX. Jubem Investments filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 17-10288) on July 31, 2017, estimating its assets at up to $50,000 and liabilities at between $1 million and $10 million. The petition was signed by Juan Miranda, president. Judge Eduardo V. Rodriguez presides over the case. Ronald Julius Smeberg, Esq., at Guerra & Smeberg, PLLC, serves as the Debtor's bankruptcy counsel. KEELER'S MEDICAL: U.S. Trustee Names W. Avery as PCO ---------------------------------------------------- Pursuant to an order entered August 3, 2017, Gail Brehm Geiger, Acting U.S. Trustee has appointed Wesley H. Avery as the Consumer Privacy Ombudsman for Keeler's Medical Supply, Inc. Wesley H. Avery can be reached at: 758 E. Colorado Blvd. Suite 210 Pasadena, CA 91101 Tel: (626) 395-7576 About Keeler's Medical Supply Keeler's Medical Supply, Inc., is a Washington corporation engaged in the business of selling and leasing medical supplies and equipment as well as providing services related to such medical supplies and equipment. Keeler's headquarters and principal place of business are located at 2001 West Lincoln Avenue in Yakima, Washington. Keeler's was formed in 1971. The common stock of Keeler's is owned as follows: (a) 91.35% by the Estate of Sharon Vetsch; (b) 6.51% by Charles E. Vetsch, Jr. (the President and Chief Executive of Keeler's); and (c) 2.14% by Clinton T. Vetsch. Keeler's Medical Supply filed a Chapter 11 petition (Bankr. E.D. Wash. Case No. 17-01849) on June 15, 2017, estimating assets of less than $50,000 and liabilities of $1 million to $10 million. The petition was signed by Charles Vetsch, president. Roger William Bailey, Esq., at Bailey & Busey PLLC, serves as the Debtor's legal counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. KELLERMEYER BERGENSONS: S&P Hikes 1st Lien Loan Rating to 'B' ------------------------------------------------------------- S&P Global Ratings affirmed its 'B-' corporate credit rating on Kellermeyer Bergensons Services LLC. The outlook is stable. S&P said, "At the same time, we are raising our issue-level rating on the company's first-lien credit facility to 'B' from 'B-'. The '2' recovery rating, which we revised from '3', indicates our expectation for substantial recovery (70%-90%; rounded estimate: 75%) in the event of default. "We also affirmed our 'CCC' issue-level rating on the company's second-lien term loan. The '6' recovery rating is unchanged, indicating our expectation for negligible recovery (0%-10%; rounded estimate: 0%) in the event of default. "The affirmation reflects our assessment of KBS' high debt leverage and sponsor ownership, its small albeit growing size, narrow business focus, and participation in the highly competitive and fragmented outsourced janitorial services industry. Despite the low barriers to entry and pricing pressure that characterize the industry, KBS has established a defensible position within the mature outsourced janitorial services sector, specifically in the retail segment. Although the company benefits from multiyear customer contracts and relatively stable contract renewals, the loss of a key customer could significantly hurt profitability. "The stable outlook on KBS reflects our expectation that earnings growth will be modest over the next 12 months, supported by acquisition contributions and cost savings initiatives but partially offset by rising wages and inflation, such that debt/EBITDA improves to 5.5x to 6.0x by 2018. Despite some scale and diversity benefits, we expect the company to continue to be a smaller player within the highly competitive and fragmented outsourced janitorial services industry. "Although unlikely over the next year, we could raise our ratings on KBS if leverage improved to below 5x and remained there on a sustained basis, with minimal anticipated risk of a releveraging event. This could happen if the company achieved greater than anticipated earnings or debt reduction through an improved cost profile, higher prices or greater than expected new business wins. Longer term, we could also raise our ratings if the company were to materially improve its business risk profile such that it enhances service offerings and/or further improves its end-market diversification." Although unlikely over the next year, a negative rating action could result if a tougher retail environment, unexpected competitive pressures, or wage and costs increases (beyond those covered by contractual escalators) resulted in a decline in operating performance causing the company to generate negative free operating cash flow, EBITDA interest coverage below 1.5x, or if cushion to the company's amended covenant headroom falls below 15%. KERSEY-BORAH: Wants Plan Filing Exclusivity Moved to Feb. 25 ------------------------------------------------------------ Kersey-Borah Properties, Inc., asks the U.S. Bankruptcy Court for the Middle District of Georgia to extend the exclusive periods within which it may file and solicit acceptances of a Chapter 11 plan through and including Feb. 25, 2018, and April 26, 2018, respectively. The Debtor's exclusive period to file a plan expires on Aug. 29, 2017. The Debtor is in the process of retaining a broker to assist it in either obtaining new financing or to sell some or all of its real estate. The structure of any new financing or disposition of properties will impact the structure and terms of any plan of reorganization that may be proposed by the Debtor. Accordingly, the Debtor needs more time to propose a Chapter 11 plan (or, potentially, to seek to dismiss the case depending on what offers it might receive for new financing or for the properties). About Kersey-Borah Properties Kersey-Borah Properties Inc., a domestic profit corporation based in Byron, Georgia, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No. 17-50941) on May 1, 2017. Frank Borah, CFO, signed the petition. J. Robert Williamson, Esq., and J. Hayden Kepner, Jr., Esq., at Scroggins & Williamson, P.C., serve as the Debtor's bankruptcy counsel. At the time of the filing, the Debtor estimated its assets at $10 million to $50 million and debts at $1 million to $10 million. Judge James P. Smith presides over the case. KHAN GROUP: Wants to Use Benevolent Management's Cash Collateral ---------------------------------------------------------------- Khan Group, LLC, seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas to use cash collateral of Benevolent Management Trust, L.D. Brown as Trustee, the Debtor's secured creditor claiming liens on the Debtor's personal property including rents. The Debtor can adequately protect the interests of the Secured Lender by providing the Secured Lender with postpetition liens, a priority claim in the Chapter 11 bankruptcy case, and cash flow payments. The cash collateral will be used to continue the Debtor's ongoing operations. The Debtor operates a Stay Express Inn & Suites located in Sweetwater, Texas. The Debtor intends to rearrange its affairs and needs to continue to operate in order to pay its ongoing expenses, generate additional income and to propose a plan in this case. The Debtor tells the Court that it has no outside sources of funding available to it and must rely on the use of cash collateral to continue its operations. A copy of the Debtor's motion is available at: http://bankrupt.com/misc/txnb17-32886-9.pdf About Khan Group LLC Khan Group LLC, d/b/a Stay Express Inn & Suites, is a privately held company in Dallas, Texas, that provides business consulting services. It is a small business debtor as defined in 11 U.S.C. Section 101(51D). Khan Group filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 17-32886) on July 31, 2017, estimating its assets and liabilities at between $1 million and $10 million. The petition was signed by Sharif Khan, managing member. Judge Harlin DeWayne Hale presides over the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC, serves as the Debtor's bankruptcy counsel. LEXINGTON HOSPITALITY: Wants to Use PCG Credit's Cash Collateral ---------------------------------------------------------------- Lexington Hospitality Group LLC seeks permission from the U.S. Bankruptcy Court for the Eastern District of Kentucky to use cash collateral. PCG Credit Partners, LLC, may claim an interest in cash collateral pursuant to a UCC-1 financing statement filed of record with the Kentucky Secretary of State that encumbers inventory, equipment, and accounts amongst other property. The Debtor wants to use cash collateral to meet its postpetition obligations and to pay its expenses, general and administrative operating expenses, and other necessary costs and expenses of operating the hotel, including taxes and insurance and other expenses incurred during the pendency of the bankruptcy case. In consideration of the Cash Collateral Creditor's consent to the use of the cash collateral by the Debtor and as part of the adequate protection for any diminution in the value of the Cash Collateral Creditor's interests in the prepetition collateral, the Debtor proposes to grant to the Cash Collateral Creditor a replacement lien upon all property of the Debtor of the same type and description as the prepetition collateral as of the Petition Date. As further adequate protection, the Debtor will pay a $5,000 adequate protection payment during the interim period to the Cash Collateral Creditor and continue to account for all cash use, and the proposed cash use is being incurred to preserve property of the Estate. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/kyeb17-51568-8.pdf About Lexington Hospitality Headquartered in Aurora, Illinois, Lexington Hospitality Group LLC -- http://www.clarionhotellexingtonky.com/-- owns the Clarion Hotel Conference Center South, a hotel located at 5532 Athens Boonesboro Road Lexington, Kentucky, known as Clarion Hotel Conference Center South. The Hotel, located in the heart of the bluegrass and 'Horse Capital of the World,' has 149 well-appointed guest rooms, an indoor heated pool and hot tub, a seasonal outdoor pool, a fitness center and an on-site restaurant and bar. Lexington Hospitality filed for Chapter 11 bankruptcy protection (Bankr. E.D. Ky. Case No. 17-51568) on Aug. 3, 2017, estimating its assets and liabilities at between $1 million and $10 million each. The petition was signed by Kenneth Moore/Janee Hotel Corporation, manager. Judge Gregory R. Schaaf presides over the case. Laura Day DelCotto, Esq., Jamie L. Harris, Esq., and Sara A. Johnston, Esq., at Delcotto Law Group PLLC, serve as the Debtor's bankruptcy counsel. LIFELINE SLEEP: Unsecureds to Recover 1% Under Plan --------------------------------------------------- Lifeline Sleep Center, LLC, filed with the U.S. Bankruptcy Court for the Western District of Pennsylvania a disclosure statement dated Aug. 7, 2017, referring to the Debtor's Chapter 11 plan dated Aug. 7, 2017. Class 6 - Unsecured Claims are impaired by the Plan. The Class 6 claims will be paid, in total, an estimated amount of $28,000, plus 6% interest, of allowed unsecured claims, divided on a pro-rata basis. This is an estimated 1% of unsecured claims. If funds are available, Debtor may pay this amount to Class 6 in full. Otherwise, at a minimum, the Debtor will pay $5,600 plus 6% interest on an annual basis for 5 years, with the first annual payment commencing within one year of the effective date of this Plan, and the 4 subsequent payments being made on the anniversary of the first payment. Any amount not paid under Class 6 will be discharged upon confirmation of this plan. This class will not be entitled to interest on their claims. Source of funds for plan payments will be derived from Debtor's ongoing operations. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/pawb16-24201-104.pdf About Lifeline Sleep Center Lifeline Sleep Center, LLC, operates several specialty outpatient sleep centers, with a principal place of business at 2030 Ardmore Boulevard, Suite 251, Pittsburgh, Pennsylvania. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 16-24201) on Nov. 10, 2016. The petition was signed by Mark Kegg, owner. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $50,000 and liabilities of less than $1 million. Judge Jeffery A. Deller presides over the case. Brian C. Thompson, Esq., at Thompson Law Group, P.C., serves as the Debtor's legal counsel. No official committee of unsecured creditors has been appointed in the Debtor's case. LIMITED STORES: Wants Plan Filing Exclusivity Extended to Nov. 10 ----------------------------------------------------------------- LSC Wind Down, LLC fka Limited Stores Company, LLC, and its affiliated Debtors ask the U.S. Bankruptcy Court for the District of Delaware to extend the periods wherein the Debtors can exclusively file a plan of reorganization and solicit approval for that plan through Nov. 10 and Dec. 15, 2017, respectively. As reported by the Troubled Company Reporter on June 1, 2017, the Court previously extended the exclusive filing and solicitation periods through and including July 17 and Sept. 15, 2017, respectively. The Debtors were a multichannel retailing company operating under the name "The Limited," which specialized in the sale of women's clothing. Founded in 1963 as a single store, the Debtors expanded over the past five decades to become a household name throughout the United States for women's apparel. In the year before the Petition Date, the Debtors were comprised of 250 store locations and an e-commerce business. The Debtors undertook multiple strategies to liquidate their assets including a store closing sale process and sale of their intellectual property assets and have had a number of competing constituencies with which to negotiate issues in their cases and to formulate a plan of liquidation. The Debtors and their professionals initially focused on winding down the Debtors' estates in order to maximize the value to creditors, including, without limitation, liquidating substantially all of the Debtors. In order to maximize the value to creditors, the Debtors were required to devote the majority of their energy to the sale and liquidation strategies that were undertaken. The Debtors and their professionals have subsequently turned their attention to addressing the major liabilities and plan formulation. The Debtors have been able to consensual resolve numerous disputes in these cases and will continue to work on resolutions in the future. At the current time, negotiations between the Debtors and the major constituencies regarding a plan are positive and merit additional efforts by all parties. The Debtors assure the Court that they have acted in good faith in order to achieve the most value from their assets in order to develop a successful plan of liquidation. To this point, the Debtors' efforts have resulted in the successful liquidation of substantially all of their assets and will result in a liquidating plan that will be filed substantially contemporaneously with this motion. The Debtors say they are substantially current on their postpetition expenses. About Limited Stores Company Limited Stores Company, LLC, et al., comprise a multi-channel retailing company operating under the name "The Limited," which specializes in the sale of women's clothing. Founded in 1963 as a single store, Limited Stores expanded over the past five decades to become a household name throughout the United States for women's apparel. At its peak, Limited Stores operated approximately 750 retail brick and mortar store locations in the United States as well as an e-commerce channel, which was accessible through the Web site at http://www.TheLimited.com/ Limited Stores Company, LLC, Limited Stores, LLC, and The Limited Stores GC, LLC, filed voluntary petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-10124) on Jan. 17, 2017, blaming, among other things, the shift of consumer preference from shopping at brick and mortar stores to online shopping. The petitions were signed by Timothy D. Boates, its authorized signatory. Limited Stores estimated $10 million to $50 million in assets and $100 million to $500 million in liabilities. The Debtors tapped Klehr Harrison Harvey Branzburg LLP as counsel; and Donlin, Recano & Company, Inc., as notice, claims and balloting agent. On Jan. 24, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Kelley Drye & Warren LLP is the proposed counsel to the Official Committee of Unsecured Creditors. LIVING BENEFITS FINANCIAL: Files Amended Liquidation Plan --------------------------------------------------------- Living Benefits Financial Group, LLC, and affiliates filed with the U.S. Bankruptcy Court for the Northern District of Texas an amended disclosure statement regarding their first amended joint plan of liquidation, dated August 11, 2017. The Debtors anticipate substantively consolidating through the Plan, liquidating their remaining assets (consisting primarily of litigation claims against Kestrel), making distributions to creditors, and winding down all of its business and affairs, pursuant to the terms of the Plan. Class 4 under the liquidation plan consists of the unsecured creditors. All unsecured claims will receive, within 60 days after obtaining any recovery from Kestrel, a pro rata share of 50% of the Net Recovery, minus any deductions (if applicable) for Class 5 Claimants. The Debtors have proposed a consensual plan, where the Debtors' primary stakeholders have agreed to release their claims against the Debtors so that the Debtors' Estates may be administered more efficiently during this bankruptcy case. A copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/txnb15-44620-11-66.pdf Headquartered in Fort Worth, TX, Living Benefits Financial Group, LLC, filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 15-44620) on Nov. 16, 2015, listing its total assets at $11,370 and total liabilities at $4,687,972. The petition was signed by Marcia Shieldknight, managing director. Counsel for the Debtors: H. Joseph Acosta, Esq. FISHERBROYLES, LLP 4514 Cole Avenue, Suite 600 Dallas, Texas 75205 Tel: (214) 614-8939 Fax: (214) 614-8992 E-mail: joseph.acosta@fisherbroyles.com LOUISIANA-PACIFIC CORP: S&P Raises CCR to BB+, Outlook Stable ------------------------------------------------------------- S&P Global Ratings raised its corporate credit rating on Louisiana-Pacific Corp. to 'BB+' from 'BB'. The rating outlook is stable. S&P said, "At the same time, we raised our issue-level rating on the company's $350 million senior unsecured notes to 'BB+' from 'BB'. The '3' recovery rating is unchanged and indicates our expectation for meaningful (50%-70%; rounded estimate: 65%) recovery of principal in the event of a payment default. "The upgrade reflects our expectation that LP will maintain adjusted debt to EBITDA below 1x throughout 2018 primarily because north central OSB prices have exceeded our estimate of $300 per thousand square feet (msf) for this year. Current prices have risen to approximately $410/msf, which is 50% higher than average 2015 trough levels. We view this level of pricing to be unsustainable due to the fact that previously mothballed capacity should come online at the end of 2017 and early 2018. Continued growth in demand for new home construction in 2018 and 2019 will help offset the additional supply. The company estimates that every additional 100,000 single-family housing starts add an additional 1 billion square feet of OSB demand. Despite our assumption that OSB prices will decline in 2018, we expect LP to continue to generate high levels of free cash flow, maintain minimal levels of leverage, and use internally generated funds for capital expenditures. "The stable outlook reflects our expectation that net leverage will remain below 3x for the next 12-18 months. We assume the company will make steady progress in converting OSB mills into siding plants, single-family housing starts will continue on an upward trend, and OSB prices will decline slightly next year. "We could lower the rating over the next 12 months if we expect LP to sustain leverage above 3x as a result of weak OSB pricing or cost overruns in converting existing OSB mills to siding plants. This scenario could occur if north central OSB prices remain at about $200/msf for a protracted time. "Although unlikely, we could raise the rating on LP if earnings prospects were materially more stable as the company shifts more of its mix to value-add siding and engineered wood products." MACIEJ PAINT: Disclosures OK'd; Sept. 13 Plan Confirmation Hearing ------------------------------------------------------------------ The Hon. Katherine A. Constantine of the U.S. Bankruptcy Court for the District of Minnesota has approved Maciej Paint Corp.'s amended disclosure statement dated Aug. 7, 2017, referring to the Debtor's plan of reorganization dated June 28, 2017. A hearing to consider confirmation of the Plan will be held on Sept. 13, 2017, at 9:30 a.m. Objections to the confirmation of the Plan must be filed seven days prior to the Confirmation Hearing. The last day to timely file the ballots to accept or reject the Plan is five days prior to the Confirmation Hearing. Sept. 13, 2017, is the last day to file a complaint objecting to the Debtor's discharge. Under the Plan, Class 1 Unsecured Claims are impaired. The non-insider unsecured creditors of the Debtor total approximately $245,000. The administrative expenses, including final payroll and the Debtor's pro rata share of operating expenses are expected to be in the amount of $65,000. The Debtor will pay each allowed unsecured creditor its pro rata share from the balance of its cash upon plan confirmation. Each allowed unsecured creditor is anticipated to receive approximately 55% of its claim. The current owner of the Debtor is Carol Maciej. She will remain the owner of the Debtor. The Debtor intends to make payments required under the Plan from the $200,000 in retained assets. A full-text copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/mnb17-30094-93.pdf Maciej Paint Corporation, dba Industrial Painting Specialist, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D.MN. Case No. 17-30094) on Jan. 13, 2017. The petition was signed by Carol Maciej, president. The Debtor is represented by Steven B. Nosek, Esq., at the Law Office of Steven B. Nosek, PA. The case is assigned to Judge Katherine A. Constantine. At the time of the filing, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. MARKHAM, IL: S&P Cuts GO Bond Rating to B+ Due to High Debt Burden ------------------------------------------------------------------ S&P Global Ratings lowered its rating to 'B+' from 'BB' on Markham, Ill.'s existing general obligation (GO) debt. The outlook is negative. "The lowered rating reflects our view of the city's continued structural imbalance and its impact on the city's budgetary flexibility, liquidity, and management conditions," said S&P Global Ratings credit analyst Helen Samuelson. "The negative outlook reflects our belief that the city's credit factors may weaken over the one-year outlook horizon due to the city's lack of progress in closing its budget gaps, the enterprise risk of managing its roller rink and its senior living complex, and its high debt and pension liability burden," Ms. Samuelson added. Markham is located about 24 miles south of Chicago in Cook County in the Chicago-Naperville-Elgin, IL-IN-WI MSA, which we consider to be broad and diverse. MAXIMUM LEGAL: Hires Levene Neale as Bankruptcy Counsel ------------------------------------------------------- Maximum Legal (California), LLP, seeks authority from the U.S. Bankruptcy Court for the Central District of California to employ Levene Neale Bender Yoo & Brill L.L.P., as bankruptcy counsel to the Debtor. Maximum Legal requires Levene Neale to: a. advise the Debtor with regard to the requirements of the Bankruptcy Court, the Bankruptcy Code, the Bankruptcy Rules and the Office of the U.S. Trustee as they pertain to the Debtor; b. advise the Debtor with regard to certain rights and remedies of the Debtor's bankruptcy estate and the rights, claims and interests of their creditors; c. represent the Debtor in any proceeding or hearing in the Bankruptcy Court involving the Debtor's estate, unless the Debtor is represented in such proceeding or hearing by other special counsel; d. conduct examinations of witnesses, claimants or adverse parties and represent the Debtor in any adversary proceeding except to the extent that any such adversary proceeding is in an area outside of Levene Neale's expertise or which is beyond Levene Neale's staffing capabilities; e. prepare and assist the Debtor in the preparation of reports, applications, pleadings and orders including, but not limited to, applications to employ professionals, monthly operating reports, quarterly reports, initial filing requirements, schedules and statements of financial affairs, lease pleadings, financing pleadings, and pleadings with respect to the Debtor's use, sale or lease of property outside the ordinary course of business; f. assist the Debtor in the negotiation, formulation, preparation and confirmation of a plan of reorganization and the preparation and approval of a disclosure statement in respect of the plan; and g. perform any other services which may be appropriate in Levene Neale's representation of the Debtor during the Debtor's bankruptcy cases. Levene Neale will be paid at these hourly rates: Attorneys $475-$595 Associates $375 Paraprofessionals $250 Prior to the Chapter 11 filing, the Debtor paid the total sum of $50,000 to Levene Neale for legal services in contemplation of and in connection with the Debtor's Chapter 11 case, inclusive of the Debtor's $1,717 chapter 11 bankruptcy filing fee. Additionally, pursuant to the terms of the Debtor's retention of Levene Neale, the Debtor will also be paying a post-petition retainer to Levene Neale in the amount of $50,000. Levene Neale will also be reimbursed for reasonable out-of-pocket expenses incurred. Martin J. Brill, partner of Levene Neale Bender Yoo & Brill L.L.P., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Levene Neale can be reached at: Martin J. Brill, Esq. Daniel H. Reiss, Esq. Lindsey L. Smith, Esq. LEVENE, NEALE, BENDER, YOO & BRILL L.L.P. 10250 Constellation Boulevard, Suite 1700 Los Angeles, CA 90067 Tel: (310) 229-1234 Fax: (310) 229-1244 E-mail: mjb@lnbyb.com dhr@lnbyb.com lls@lnbyb.com About Maximum Legal (California), LLP Maximum Legal (California), LLP, based in Los Angeles, CA, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 17-18433) on July 12, 2017. The Hon. Neil W. Bason presides over the case. Martin J. Brill, Esq., at Levene Neale Bender Yoo & Brill L.L.P., serves as its bankruptcy counsel. In its petition, the Debtor estimated $500,000 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Todd W. Wakefield, partner and CEO. METHANEX CORP: S&P Alters Outlook to Stable & Affirms BB+ CCR ------------------------------------------------------------- S&P Global Ratings affirmed its 'BB+' corporate credit rating on Vancouver-based chemical company Methanex Corp. and revised the outlook to stable from negative. S&P said, "The 'BB+' issue-level and '4' recovery ratings on the company's senior unsecured debt are unchanged. The '4' recovery rating indicates our expectation of average (30% to 50%, rounded estimate: 45%) recovery in the event of a payment default. "The outlook revision reflects the improvement in methanol prices in the first half of 2017, and our expectation that second half 2017 prices will remain above prices from the same period in 2016. We view 2016 prices as trough levels and do not anticipate in our base case that pricing will revert to those levels for a sustained period of time. As a result, we expect Methanex to maintain a weighted-average funds from operations (FFO) to total debt in the 20% to 30% range. The company's average realized methanol prices in the first half of 2017 were $347/tonne, which is over a 50% improvement from first-half 2016 levels. We would expect full year 2017 prices to average above $300/tonne, which compares favorably with $242/tonne in 2016. Key drivers for the increase include: strong methanol demand (particularly from new methanol to olefins (MTO) facilities), some temporary methanol outages in the first half, and coal prices well above 2015 levels (as a key input in Chinese methanol production, increased coal prices tends to raise the methanol cost curve). While we expect 2018 methanol prices to drop from 2017 levels, due to new capacity coming online, we still expect prices to remain moderately above subdued 2016 levels, given our forecast for oil prices to remain around $50/barrel and methanol demand growth in the mid- to high-single-digit percentage area. "The stable outlook reflects our expectation that 2017 methanol prices will be stronger than our previous forecasts, driven in part by methanol supply outages in the first half, along with coal prices that are well above 2015 levels. In our base case forecast, we expect a moderate drop in 2018 methanol prices, due to significant methanol capacity expected to come online from competitors. We expect demand to improve in the mid- to high-single-digit percentage area annually, due to several large MTO facilities that are coming online, as well as increased demand from traditional methanol end uses. At the current rating, we expect the company to maintain weighted-average FFO-to-debt in the 20%-30% range, after factoring in high levels of volatility in the company's credit measures driven by large swings in methanol prices. "We could lower Methanex's ratings in the next 12 months if 2018 methanol prices decline significantly more than we currently project, driven by new capacity additions or weaker demand from the MTO market. In this downside scenario, we could consider a lower rating if methanol prices are more than $20/tonne lower than we project for an extended period. In the event of a sustained operational issue at one of the Methanex's global facilities, or if current natural gas restrictions become more pronounced, we could consider a lower rating. "Although we view an upgrade to 'BBB-' as unlikely within the next 12 months, we could raise the ratings if the company sustains solid cash flow generation and credit measures, supported by strong methanol prices and favorable long-term demand from the methanol-to-olefins market. Specifically, we would need to expect the company to maintain weighted-average FFO/debt consistently in the 30%-45% range, after factoring in the inherent high volatility in methanol prices. We believe the ratio could be in this range for brief periods over the next 12 months, but we do not anticipate in our base case that the ratio would be sustained at these levels. We would also need to believe that in a future downturn credit measures would remain well above 2016 levels, when FFO/debt dropped to about 12%. To achieve these metrics we would expect methanol prices to be more than $30/tonne higher than we project, along with moderately lower cash costs per tonne. To consider a higher rating, we would need to gain clarity that management would take steps to adhere to financial policies that maintain credit measures at this level, after factoring in potential growth initiatives and inherent volatility in methanol prices." MIDWEST ASPHALT: Wants to Continue Using Cash Until Dec. 31 ----------------------------------------------------------- Midwest Asphalt Corporation seeks authorization from the U.S. Bankruptcy Court for the District of Minnesota to continue to use cash collateral through Dec. 31, 2017. The Court has previously granted the Debtor the right to use cash collateral in three prior orders. The most recent granted the use of cash through Aug. 31, 2017. However, the Debtor requires the use of cash collateral in order to carry on its business activities, to pay for its current operations, including purchases, insurance, utilities, payroll, and payroll taxes and rent. The Debtor believes that it can operate in Chapter 11, and can, within a reasonable time period, propose and confirm a plan of reorganization through the use of cash collateral. Of the creditors with secured claims, the Debtor believes that the only party with a prepetition interest in cash collateral is Callidus Capital Corporation. Additional postpetition liens in cash collateral have been granted to MAC Investment- Chanhassen, LLC and Mr. Gary Welty. All of Debtor's other secured lenders have liens in only certain specified equipment and have no liens in cash collateral. As of the date of filing, Callidus Capital was owed approximately $15 Million. The Debtor believes that Callidus Capital is undersecured. Accordingly, the Debtor proposes that it be authorized to grant to Callidus Capital a replacement lien or a security interest in any new assets, materials and accounts receivable, generated from the use of cash collateral, with the same type, priority, dignity, and validity of prepetition liens or security interests. As additional adequate protection, the Debtor proposes: (1) to maintain insurance on all of the property in which the Callidus Capital (and all other secured creditors) claim a security interest; (2) to pay all post-petition federal and state taxes, including timely deposit of payroll taxes; (3) to provide the Callidus Capital and all other secured creditors, access for inspection of their collateral and the Debtor's business records; and (4) that all cash proceeds and income of the Debtor will be deposited into a Debtor in Possession Account. The Court will hold a hearing on Aug. 24, 2017, at 2:00 p.m., to consider the Debtor's continued use of cash collateral. A full-text copy of the Debtor's Motion, dated Aug. 10, 2017, is available at https://is.gd/kQq7vm About Midwest Asphalt Midwest Asphalt Corporation is a construction company, primarily in the business of constructing and paving roads. Midwest Asphalt has been in business since 1968. The Company currently employs approximately 150 people. The seasonal work begins to grow in April, reaches its peak in June and July, and is completed in November each year. Midwest Asphalt, based in Hopkins, Minnesota, filed a Chapter 11 petition (Bankr. D. Minn. Case No. 17-40075) on Jan. 12, 2017. The petition was signed by Blair Bury, president. The case is jointly administered with the case of MAR Farms, LLC (Bankr. D. Minn. Case No. 17-41371) and Delta Milling, LLC (Bankr. D. Minn. Case No. 17-41372). The Debtor estimated assets and debt at $10 million to $50 million at the time of the filing. The case is assigned to Judge Katherine A. Constantine. The Debtor is represented by Thomas Flynn, Esq., at Larkin Hoffman. Daniel M. McDermott, the U.S. Trustee for Region 12, on Feb. 2, 2017, appointed two creditors of Midwest Asphalt to serve on the official committee of unsecured creditors. The committee members are: (1) WD Larson/Allstate Peterbilt; and (2) Tiller Corporation. The U.S. Trustee, on March 16, 2017, added LSREF2 Cobalt LLC to the Committee. The Committee retained Matthew R. Burton, Esq., at Leonard, O'Brien, Spencer Gale & Sayre, Ltd., as legal counsel. MONTAINER CORPORATION: Hires Binney Law as Counsel -------------------------------------------------- Montainer Corporation has filed an amended application with the U.S. Bankruptcy Court for the District of Montana seeking approval to hire Binney Law Firm, P.C., as counsel to the Debtor. Montainer requires Binney Law to: a. provide general counsel and represent the Debtor before the Bankruptcy Court in connection with the bankruptcy case; b. prepare petition, schedules, and other filings; c. represent the Debtor in court hearings and at the meeting of creditors; d. consult with the Debtor as the case progresses; e. prepare the plan and disclosure statement; and f. negotiate with creditors and other matters performed by counsel for the estate. Binney Law will be paid at these hourly rates: Attorney $250 Paralegal $90 Binney Law received a $5,000 retainer, and $1,717 filing fee. Binney Law will also be reimbursed for reasonable out-of-pocket expenses incurred. Jon R. Binney, a member of Binney Law Firm, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Binney Law can be reached at: Jon R. Binney, Esq. BINNEY LAW FIRM, P.C. P.O. Box 2253 Missoula, MT 59806-2253 Tel: (406) 541-8020 Fax: (406) 543-5023 E-mail: jon@binneylaw.com About Montainer Corporation Montainer Corporation filed a Chapter 11 bankruptcy petition (Bankr. D. Mont. Case No. 17-60732) on July 24, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Jon R. Binney, Esq., at Binney Law Firm, P.C. MRI INTERVENTIONS: Posts 2nd Quarter Revenue of $1.9 Million ------------------------------------------------------------ MRI Interventions, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss of $2 million on $1.97 million of total revenues for the three months ended June 30, 2017, compared to a net loss of $1.78 million on $1.10 million of total revenues for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss of $3.66 million on $3.98 million of total revenues compared to a net loss of $3.82 million on $2.49 million of total revenues for the six months ended June 30, 2016. As of June 30, 2017, MRI Interventions had $16.85 million in total assets, $8.32 million in total liabilities and $8.52 million in total stockholders' equity. The Company has incurred net losses since its inception which has resulted in a cumulative deficit at June 30, 2017, of $97.5 million. As a result, management historically has expressed substantial doubt as to the Company's ability to continue as a going concern. In May 2017 the Company completed a private offering of equity units through which the Company received aggregate gross proceeds of approximately $13.25 million, before deducting placement agents' fees and offering expenses aggregating approximately $1.3 million. As a result, the Company's cash and cash equivalent balances at June 30, 2017, aggregated $12.7 million, which, in management's opinion, is sufficient to support the Company's operations for at least the next twelve months and to alleviate doubt as to the Company's ability to continue as a going concern. A full-text copy of the Form 10-Q is available for free at: https://is.gd/Hz8o5z About MRI Interventions Based in Irvine, Calif., MRI Interventions, Inc. -- http://www.mriinterventions.com/-- is a medical device company. The Company develops and commercializes platforms for performing minimally invasive surgical procedures in the brain and heart under direct, intra-procedural magnetic resonance imaging (MRI) guidance. It has two product platforms: ClearPoint system, which is used to perform minimally invasive surgical procedures in the brain and ClearTrace system, which is under development, to be used to perform minimally invasive surgical procedures in the heart. MRI Interventions incurred a net loss of $8.06 million for the year ended Dec. 31, 2016, compared to a net loss of $8.44 million for the year ended Dec. 31, 2015. Cherry Bekaert LLP, in Charlotte, North Carolina, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company incurred net losses during the years ended Dec. 31, 2016, and 2015 of approximately $8.1 million and $8.4 million, respectively. Additionally, the stockholders' deficit at Dec. 31, 2016, was approximately $756,000. These conditions raise substantial doubt about the Company's ability to continue as a going concern. NEW CAL-NEVA: Lawrence Investments Proposes to Buy Debtor's Assets ------------------------------------------------------------------ Lawrence Investments, LLC, and the Official Committee of Unsecured Creditors of New Cal-Neva Lodge, LLC, filed with the U.S. Bankruptcy Court for the District of Nevada a disclosure statement dated Aug. 7, 2017, for their plan of liquidation for the Debtor dated Aug. 7, 2017. Under this Plan, Lawrence will be the stalking horse purchaser for a sale of substantially all of New Cal-Neva's assets for a cash purchase price of $35.8 million and a cash payment of an additional sum of $2.2 million for other payments provided for by the Plan. Lawrence made a $2.0 million deposit into escrow with counsel to the Committee on July 21, 2017. Upon confirmation of the Plan by the Court, the Lawrence deposit will be delivered to the escrow agent designated in, and in accordance with and subject to the terms and conditions of, the asset purchase agreement, including the conditions that the deposit will be returned to Lawrence if the Court does not approve the sale to Lawrence, or the Debtor does not timely close escrow delivering title to the Purchased Assets free and clear of liens, claims or interests as provided in the proposed Asset Purchase Agreement. Lawrence J. Ellison is presently the sole direct or indirect beneficial owner of all membership interests in Lawrence. Lawrence has provided the Committee with evidence of its financial ability to consummate the purchase of the Property as provided in the Asset Purchase Agreement. The Sale will be subject to overbidding by qualified bidders at the plan confirmation hearing. On the Effective Date, the net proceeds from the Purchase Price from the Sale to Lawrence or the successful overbidder will be used to pay lienholders in order of priority of their liens, as follows: (a) pay Hall's superpriority administrative claim; (b) pay secured real property tax claims in full on the Effective Date; (c) establish a Lien Litigation Reserve in the amount of all mechanic's lien claims which are the subject of the pending lien priority dispute in the lien litigation pending as consolidated Adversary Proceeding No. 16-05036-GWZ plus an additional $500,000, with the funds in reserve to be distributed based upon the order of lienholder priority determined after resolution of that proceeding; and (d) pay the remainder of the sale proceeds to Hall up to the full amount of its allowed secured claim. Unless there is overbidding, the Sale Proceeds will not be sufficient to pay all allowed secured claims in full. In the event that the Sale is to a successful overbidder and Hall's allowed secured claim is fully satisfied, any remaining sale proceeds will be paid to Ladera up to the full amount of its allowed secured claim. If there are sufficient sale proceeds to pay all secured claims in full, then all allowed secured claims will be paid on the Effective Date and the remaining sale proceeds will be used to pay any unpaid administrative, priority and general unsecured claims in accordance with the U.S. Bankruptcy Code Distribution Priorities. The Plan Payment will be used to pay (a) unsecured priority tax claims, (b) priority non-tax claims, (c) general administrative expense claims, (d) defaults on the Allowed Secured Claim of Capital One (estimated at $500,000), (e) cure amounts for any default under the assumed executory contracts listed in Article V.A (estimated at $160,000), (f) tax liens on the Fairwinds Estate (estimated at $35,000), (g) unsecured convenience claims (claims of $750 or less) in full in cash on the Effective Date, (h) $50,000 to establish a Litigation Trust, (i) $25,000 as a reserve for a Plan Administrator and for post-Effective Date U.S Trustee Fees, and (j) a fund for Allowed professional fees, in the amount of (1) $1,200,000, plus (2) the difference, if any, between $1.0 million and the amounts necessary to satisfy items (a) through (i) above. The Litigation Trustee will be authorized to prosecute all Trust Causes of Action assigned to the Litigation Trust for the benefit of General Unsecured Claims, with any residual paid to Cal Neva on account of its Interest in New Cal-Neva. The Proponents have not conducted an investigation or analysis of the merits or value of any Trust Causes of Action. Therefore, the Litigation Trustee may determine that there are no Trust Causes of Action that will be prosecuted and may determine that the Trust Causes of Action have no value. Cal Neva will retain its equity Interests in New Cal-Neva under the Plan and will receive any Sale Proceeds after all senior creditors are paid and, if needed, will be a subordinated beneficiary of the Litigation Trust to be established by the Plan. Under the Plan, Class 11 General Unsecured Claims are impaired. Allowed claims will be paid pro rata from litigation trust net proceeds. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/nvb16-51282-762.pdf About New Cal-Neva Lodge New Cal-Neva Lodge, LLC, based in Saint Helena, California, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 16-10648) on July 28, 2016. In its petition, New Cal-Neva estimated $50 million to $100 million in assets and $10 million to $50 million in liabilities. The petition was signed by Robert Radovan, president and secretary. Judge Thomas E. Carlson presides over the case. Keller & Benvenutti LLP serves as bankruptcy counsel. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Sept. 13, 2016. The committee hired Pachulski Stang Ziehl & Jones LLP, as legal counsel; Province, Inc., as financial advisor; and Fennemore Craig P.C. as Nevada counsel. New Cal-Neva filed a Chapter 11 plan of reorganization for the company and its parent Cal Neva Lodge, LLC. On Jan. 6, 2017, Leslie P. Busick and several other creditors proposed a Chapter 11 plan of reorganization for New Cal-Neva. The group is represented by the Law Offices of Alan R. Smith. On March 21, 2017, Ladera Development, LLC, filed a Chapter 11 plan of reorganization for New Cal-Neva and its parent. NEW CAL-NEVA: Northlight, Enchantment Group to Fund Penta's Plan ---------------------------------------------------------------- Penta Building Group, LLC, a secured creditor of New Cal-Neva Lodge, LLC, and Northlight Capital Partners, filed with the U.S. Bankruptcy Court for the District of Nevada an amended joint proposed disclosure statement in support of the second amended plan of liquidation for New Cal-Neva Lodge, LLC, dated Aug. 7, 2017. Under the Plan, substantially all property of the Debtor other than Creditors' Trust Assets will be transferred to Northlight or an entity created by Northlight for this purpose. Northlight will assume only the obligations specifically assumed or created under the Plan. The Creditors' Trust Assets will be transferred to the Creditors' Trust to be liquidated for the benefit of the Debtor's general unsecured creditors. Upon the Effective Date, all equity interests in the Debtor will be extinguished. The Plan will be funded and the subject property rehabilitated and developed through an operating partnership between Northlight Capital Partners, LLC, and Enchantment Group. Northlight will invest $34 million to satisfy the Debtor's existing claims. The $34 million plan payment will: (a) pay the Debtor's unsecured priority tax claims, priority non-tax claims, and general administrative expenses claims and in full in cash on the Effective Date; (b) satisfy allowed fees of estate professionals in the maximum aggregate amount up to $1 million as agreed by professionals, or pro rata; (c) create a fund, of no less than $32 million to be disbursed on the Effective Date in full satisfaction of the secured claims of Hall CA-NV, LLC, Ladera Development, LLC, and Penta (inclusive of its subcontractors), which disbursements to each creditor will be based on the outcome of the Secured Creditors' Adversary Actions litigation; (d) pay allowed amounts of the advances with respect to the super priority lien held by Hall; and (e) pay $30,000 to establish the Creditors' Trust, for benefit of the Debtor's General Unsecured Creditors. Proponents believe that Penta must remain the general contractor and complete the construction project. Northlight has agreed to pay Penta and the Subcontractors $8 million in consideration for entering into the Construction Contract to complete construction that will combine Cal Neva with Boulder Bay. This payment will also cover transfer of the designs, permits, entitlements, and approvals held by Penta and the Subcontractors. Proponents believe reasonable business justification exists for the Guaranty because the cost of replacing Penta and the Subcontractors could exceed the Guaranty. The Proponents have investigated the possibility of replacing Penta and do not believe it is economically feasible. The cost of putting the project back out to bid alone, has been estimated to be over $4 million. Further, non-payment to Penta and the Subcontracts would have a significant chilling effect on the putative re-bidding process. The Plan Proponents believe that if provision is not made to guarantee some payment to the Subcontractors, whoever purchases the property will likely need contractors from outside the Tahoe area, which will further increase the costs of construction. The Guaranty is not consideration for the transfer of the Purchased Assets under this Plan but is disclosed as an abundance of caution. This payment is not on account of Penta's claim in the bankruptcy. Penta's claim is being treated as described under Class 5. The Guaranty has no impact on distributions to general unsecured creditors. The Guaranty will be reduced on a dollar for dollar basis, to the extent Penta recovers under the Secured Creditors' Fund. In the event Penta is found to be the senior lienholder on the Property, the Guaranty will be reduced up to the entire $8 million. On or after the Effective Date, Northlight will pay Penta and its subcontractors the Guaranty and Northlight and Penta will enter into a new Construction Contract. Northlight's agreement to provide the Guaranty is not contingent on the resolution of the Lien Litigation. Northlight will pay the costs to complete the renovation of the Resort. Total construction costs for the combined project are estimated to be between $35 million and $40 million. The Plan going Effective is conditioned upon, among other things, Northlight and Penta reaching agreement on the Construction Contract and upon Northlight securing financing to complete construction of the project once the Plan is confirmed. Northlight will seek construction financing in the amount consistent with the estimated costs of construction. Following Plan Confirmation, Northlight anticipates it will take no more than 45 days to obtain the Construction Financing. Northlight has a high level of confidence that the financing will be obtained. Most, if not all, of the projects included a similar debt component to this project. In all cases, Northlight successfully obtained the financing. Northlight has made a $500,000 good faith deposit to its counsel's trust account and Penta has made a $500,000 good faith deposit to its counsel's trust account. The Plan will establish the Creditors' Trust and the Creditors' Trustee will be authorized to liquidate and distribute all Creditors' Trust Assets assigned to the Creditors' Trust for the benefit of General Unsecured Claims. A full-text copy of the Amended Joint Disclosure Statement is available at: http://bankrupt.com/misc/nvb16-51282-757.pdf As reported by the Troubled Company Reporter on July 24, 2017, Penta and Northlight filed a joint proposed disclosure statement in support of an amended plan of liquidation for the Debtor, dated July 14, 2017, which contemplated the sale of substantially all Debtor's assets, free and clear, to Northlight and the creation of a Creditors' Trust to liquidate any remaining assets for distribution to the Debtor's general unsecured creditors. Under that plan, Northlight would invest no more than $40 million to satisfy the Debtor's existing claims. Northlight would also make a $32 million plan payment. About New Cal-Neva Lodge New Cal-Neva Lodge, LLC, based in Saint Helena, California, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 16-10648) on July 28, 2016. In its petition, New Cal-Neva estimated $50 million to $100 million in assets and $10 million to $50 million in liabilities. The petition was signed by Robert Radovan, president and secretary. Judge Thomas E. Carlson presides over the case. Keller & Benvenutti LLP serves as bankruptcy counsel. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Sept. 13, 2016. The committee hired Pachulski Stang Ziehl & Jones LLP, as legal counsel; Province, Inc., as financial advisor; and Fennemore Craig P.C. as Nevada counsel. New Cal-Neva filed a Chapter 11 plan of reorganization for the company and its parent Cal Neva Lodge, LLC. On Jan. 6, 2017, Leslie P. Busick and several other creditors proposed a Chapter 11 plan of reorganization for New Cal-Neva. The group is represented by the Law Offices of Alan R. Smith. On March 21, 2017, Ladera Development, LLC, filed a Chapter 11 plan of reorganization for New Cal-Neva and its parent. NEW CAL-NEVA: Rand CN to Fund Ladera's Plan with $1.8MM Cash ------------------------------------------------------------ Ladera Development, LLC, a secured creditor of New Cal-Neva Lodge, LLC, and Cal Neva, and Interest Holder of Cal Neva, filed with the U.S. Bankruptcy Court for the District of Nevada a second amended disclosure statement for Ladera's second amended plan of liquidation for New Cal-Neva, dated July 5, 2017. Under this Plan, Rand Cal-Neva, LLC, will be the stalking horse purchaser for a sale, subject to overbidding, of substantially all of New CalNeva's assets for a cash purchase price of $32.2 million and a cash payment of an additional sum of $1.8 million for other payments provided for by the Plan. Rand CN made a $2 million deposit on July 3, 2017, into the escrow designated in the Asset Purchase Agreement at Commonwealth Land Title Insurance Company, 685 Third Avenue, 20th Floor, New York, New York 10017. Rand CN's deposit is non-refundable subject to the terms and conditions of the Asset Purchase Agreement. Rand CN's members are Warren De Haan, Jeff Pickett or his designee, and Greg and Susan Kay, or their designee, who are neither creditors of nor holders of any interests in the Debtor's estate. Rand CN's members have provided Ladera with signed letters and e-mails committing to fund a total sum of $34 million for Rand CN's payment of the Purchase Price for Property and the Plan Payment. Rand CN's members have further provided Ladera with proof of funds to meet their commitments in the form of Merrill Lynch account statements and letters from Bank of the West and First Independent Bank confirming cash on hand in excess of the amounts required to fund the proposed purchase. Jeff Pickett is a member of Ladera, the Plan Proponent. However, Jeff Pickett or an entity controlled by Jeff Pickett (other than Ladera) will contribute new capital to Rand CN in consideration for Jeff Pickett's interest in Rand CN. Ladera has not and will not provide any funds or other property to Rand CN, will not hold any interest in Rand CN, and will not receive any money or other property from Rand CN. As a creditor of the Debtor's estate, Ladera may receive distributions from the Debtor's estate from the proceeds of the Sale in accordance with Ladera's rights as a creditor of the Debtor's estate, after Hall is paid in full, as provided in the Plan. Rand CN's deposit is non-refundable if the Plan is confirmed and the Debtor's estate timely meets its obligations under the Asset Purchase Agreement. However, Rand CN's deposit will be refundable and returned to Rand CN under certain circumstances as provided in the Asset Purchase Agreement, including a failure of the Debtor's estate to meet its obligations under the Asset Purchase Agreement for any reason, like where: (i) the Court does not approve the Sale to Rand CN, (ii) the Debtor does not timely close escrow delivering title to the Purchased Assets free and clear of liens, claims or interests as provided in the proposed Asset Purchase Agreement, or (iii) Ladera withdraws the Plan prior to confirmation. If Ladera were to withdraw the Plan, Rand CN would consider the option of continuing with the Asset Purchase Agreement under an alternative to the Plan. The Sale will be subject to overbidding by qualified bidders at the plan confirmation hearing. Ladera proposes that overbids will conform to the bid contract attached to the Plan Supplement, which includes the same terms as the Asset Purchase Agreement between Rand CN and the Estate, except for matters specific to the Rand CN as the stalking horse purchaser like the name of the buyer, the purchase price, and removal of the break-up fee. Any other changes to the bid contract must be approved by the Court. The Plan provides that Rand CN will be entitled to a break-up fee of $250,000 plus out-of-pocket costs of up to $400,000 by or on behalf of Rand CN for due diligence and other expenses related to Rand CN's proposed purchase, as liquidated damages in the event that the bid of a competing bidder for the Purchased Assets is accepted. On the Effective Date, the net proceeds from the Purchase Price from the Sale to Rand CN or the successful overbidder will be used to pay lienholders in order of priority of their liens, as follows: (a) first to pay Hall's superpriority administrative claim in full on the Effective Date; (b) second to pay Secured Real Property Tax Claims in full on the Effective Date; (c) third to establish a Lien Litigation Reserve in the amount of all mechanic's lien claims in Class 4 and Class 5, which are the subject of the pending lien priority dispute in the Lien Litigation pending as consolidated Adversary Proceeding No. 16-05036-gwz plus an additional $500,000, with the funds in the reserve to be distributed based upon the order of lienholder priority determined after resolution of that proceeding; and (d) fourth to pay the remainder of the Sale Proceeds to Hall up to the full amount of its allowed secured claim. In the event that the Sale is to a successful overbidder and Hall's allowed secured claim is fully satisfied, any remaining Sale Proceeds will be paid to Ladera up to the full amount of its allowed secured claim and thereafter any remaining funds shall be paid pro rata to allowed secured claims in Class 6 and Class 9. If there are sufficient Sale Proceeds to pay all secured claims in full, then all allowed secured claims will be paid on the Effective Date and the remaining Sale Proceeds will be used to pay any unpaid administrative, priority and general unsecured claims in accordance with the Bankruptcy Code Distribution Priorities. The Plan Payment will be used to pay (a) unsecured priority tax claims, (b) priority nontax claims, (c) general administrative expense claims, (d) allowed professional fees estimated to be not more than $1,000,000 as of the Effective Date, (e) defaults on the allowed secured claim of Capital One (estimated at $500,000), and (f) unsecured convenience claims (claims less than $750) in full in cash on the Effective Date as well as $50,000 to establish a Litigation Trust and $25,000 as a reserve for a Plan Administrator and for post-Effective Date U.S Trustee Fees. A copy of the Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/nvb16-51282-755.pdf As reported by the Troubled Company Reporter on July 17, 2017, Ladera filed a disclosure statement dated July 5, 2017, referring to the plan of liquidation for the Debtor, which proposed that Class 11 General Unsecured Claims be paid pro rata, until paid in full without interest, from 100% of proceeds from litigation trust, if any, and any sale proceeds, if any, after payment in full of allowed claims in Classes 1 through 6 and Classes 8 through 10. Under that plan, Rand CN would be the stalking horse purchaser for a sale of substantially all of New Cal-Neva's assets for a cash purchase price of $28.2 million, an interest from Rand CN to Ladera or its designee valued at $5.5 million, and a cash payment of an additional sum of $1.8 million for other payments provided for by the Plan. About New Cal-Neva Lodge New Cal-Neva Lodge, LLC, based in Saint Helena, California, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 16-10648) on July 28, 2016. In its petition, New Cal-Neva estimated $50 million to $100 million in assets and $10 million to $50 million in liabilities. The petition was signed by Robert Radovan, president and secretary. Judge Thomas E. Carlson presides over the case. Keller & Benvenutti LLP serves as bankruptcy counsel. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Sept. 13, 2016. The committee hired Pachulski Stang Ziehl & Jones LLP, as legal counsel; Province, Inc., as financial advisor; and Fennemore Craig P.C. as Nevada counsel. New Cal-Neva filed a Chapter 11 plan of reorganization for the company and its parent Cal Neva Lodge, LLC. On Jan. 6, 2017, Leslie P. Busick and several other creditors proposed a Chapter 11 plan of reorganization for New Cal-Neva. The group is represented by the Law Offices of Alan R. Smith. On March 21, 2017, Ladera Development, LLC, filed a Chapter 11 plan of reorganization for New Cal-Neva and its parent. NEW CAL-NEVA: Sherman, Terramar to Fund Leslie Busick Plan ---------------------------------------------------------- Creditors Leslie P. Busick, David Marriner, Charles and Judith Munnerlyn, and John Paye, Trustee of Paul and Evy Paye, LLC, filed with the U.S. Bankruptcy Court for the District of Nevada amendments to their third amended joint disclosure statement for their proposed Chapter 11 plan of reorganization for Cal Neva Lodge, LLC, and New Cal-Neva Lodge, LLC. The Introduction will be amended to reflect that the proponents of the Creditors' Third Amended Joint Disclosure Statement are Leslie P. Busick, David Marriner, Charles and Judith Munnerlyn, and John Paye, Trustee of Paul and Evy Paye, LLC. Modifications include: a. Section 8.6.2 has been modified to provide that all property of both Debtors will be transferred to an entity to be formed between Sherman Financial Group, LLC, and Terramar Capital, LLC, upon the Effective Date; b. Section 8.6.3 has been modified to provide that a licensed CPA will act as disbursing agent, and that all disbursements will be made after notice and hearing, and approval of the Court; c. the Plan will be funded by an entity to be formed between Sherman Financial Group, LLC, and Terramar Capital, LLC. Newco will provide all cash necessary to fund the plan; and d. on the Effective Date all property of both of the Debtors' estates will vest in Newco free and clear of all liens and claims, including, without limitation, all real and personal property, all retained causes of action, interests, claims, chose in action, and all rights under any contracts assumed, against any person. On and after the Effective Date, Newco may operate its business and use, acquire, or dispose of property and compromise or settle any claims without supervision or approval by the Court and free of any restrictions of the Bankruptcy Code or Bankruptcy Rules. Copies of the Amendments is available at: http://bankrupt.com/misc/nvb16-51282-763.pdf http://bankrupt.com/misc/nvb16-51281-275.pdf As reported by the Troubled Company Reporter on April 28, 2017, the plan proposed by the Creditors would be funded by new financing from Suntoro, which would be sufficient to pay all creditors in full. The TCR reported on April 18, 2017, that the Creditors filed their latest disclosure statement, which explains their proposed Chapter 11 plan of reorganization for the Debtors. Under that plan, unsecured creditors would get a pro rata distribution of the "New Cal-Neva unsecured creditor fund." About Cal Neva Lodge Cal Neva Lodge, LLC, initially filed a Chapter 11 bankruptcy petition (Bankr. N.D. Cal. Case No. 16-10514) on June 10, 2016. The case was subsequently transferred to the U.S. Bankruptcy Court for the District of Nevada on Oct. 13, 2016, and assigned Case No. 16-51281. On Oct. 25, 2016, the case was reassigned to Judge Gregg W. Zive. Jeffer Mangles Butler & Mitchell LLC represents the Debtor as general counsel. In its petition, the Debtor estimated $50 million to $100,000 million in assets and $10 million to $50 million in liabilities. The petition was signed by William T. Criswell, president. About New Cal-Neva Lodge New Cal-Neva Lodge, LLC, based in Saint Helena, California, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 16-10648) on July 28, 2016. In its petition, New Cal-Neva estimated $50 million to $100 million in assets and $10 million to $50 million in liabilities. The petition was signed by Robert Radovan, presidentand secretary. Judge Thomas E. Carlson presides over the case. Keller & Benvenutti LLP serves as bankruptcy counsel. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Sept. 13, 2016. The committee hired Pachulski Stang Ziehl & Jones LLP, as legal counsel; Province, Inc., as financial advisor; and Fennemore Craig P.C. as Nevada counsel. New Cal-Neva filed a Chapter 11 plan of reorganization for the company and its parent Cal Neva Lodge, LLC. On Jan. 6, 2017, Leslie P. Busick and several other creditors proposed a Chapter 11 plan of reorganization for New Cal-Neva. The group is represented by the Law Offices of Alan R. Smith. On March 21, 2017, Ladera Development, LLC, filed a Chapter 11 plan of reorganization for New Cal-Neva and its parent. NORTHERN POWER: Posts $873,000 Net Income in Second Quarter ----------------------------------------------------------- Northern Power Systems Corp. filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing net income of $873,000 on $17.76 million of total revenues for the three months ended June 30, 2017, compared to a net loss of $2.52 million on $8.70 million of total revenues for the three months ended June 30, 2016. For the six months ended June 30, 2017, Northern Power reported a net loss of $317,000 on $23.96 million of total revenues compared to a net loss of $6.75 million on $13.88 million of total revenues for the six months ended June 30, 2016. As of June 30, 2017, Northern Power had $20.22 million in total assets, $22.97 million in total liabilities and a total shareholders' deficiency of $2.74 million. "Our fleet size and performance leads the industry and we continue to prove our operational capability to rapidly deploy turbines that perform for our customers. We are starting to deliver turnkey energy storage solutions with our qualified battery partners that we are confident will bring equal value and performance," stated Ciel Caldwell, president and chief operating officer. "By improving economics and continuing to develop advanced performance offerings we are expanding our reach and engagement with new markets. We had significant improvement in revenues during the first half of 2017; however, with continued seasonality in our business and changes in Italian regulations, which we hope to get clarity on later in the year, we expect to see negative impacts to our revenue during the remainder of 2017." "Product cost reductions and streamlined operating expenses contributed to a profitable quarter and non-GAAP adjusted EBITDA positive first half of 2017," commented Eric Larson, chief accounting officer. "As a result of the anticipated negative revenue impacts mentioned by Ciel, we cannot yet reliably predict recurring profitability and therefore we do expect to incur operating losses during the second half of 2017." Order backlog at June 30, 2017, was approximately $14 million as compared to $31 million at June 30, 2016, and $30 million at March 31, 2017. Gross profit in the second quarter was 20.3 percent, an increase from gross profit of 10.7 percent in the prior year period. The Company's condensed consolidated financial statements can be found on its Form 10-Q filed with the SEC at https://is.gd/uhWYWv About Northern Power Systems Northern Power Systems -- http://www.northernpower.com/-- designs, manufactures, and sells wind turbines and power technology products, and provides engineering development services and technology licenses for energy applications, into the global marketplace from its U.S. headquarters and European offices. Northern Power reported a net loss of $8.94 million for the year ended Dec. 31, 2016, following a net loss of $7.79 million for the year ended Dec. 31, 2015. OIL PATCH TRANSPORTATION: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------------ The Office of the U.S. Trustee on August 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Oil Patch Transportation, Inc. About Oil Patch Transportation Oil Patch Transportation filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 17-80152) on May 16, 2017. The Company says it is a small business debtor as defined in 11 U.S.C. Section 101(51D). It was founded in 2006 and is engaged in the business of arranging transportation of freight and cargo. The Debtor serves the oil and gas industry in Brazoria County, Texas and the surrounding counties. The Debtor operates on a fiscal year of July through June. Gross income for fiscal year 2015 was $9,609,160, and for 2016, it was $4,998,418. Robert Smith, president, signed the petition. At the time of filing, the Debtor disclosed $2.87 million in total assets and $2.48 million in total liabilities. The case is assigned to Judge Marvin Isgur. The Gerger Law Firm, PLLC, serves as counsel to the Debtor. The Debtor hired Hess Hopkins Alexander LLP as its accountant. ORANGE PARK DENTAL: Asks for Court's Nod to Use Cash Collateral --------------------------------------------------------------- Orange Park Dental Professionals P.A. seeks permission from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Prior to the Petition Date, the Debtor entered into a Note and Business Loan Agreement with First-Citizens Bank & Trust Company. First-Citizens Bank & Trust Company has liens on the Debtor's personal property, including inventory and the proceeds thereof. The Debtor will prepare a detailed budget and intends on offering replacements liens to First-Citizens Bank & Trust Company in order to protect the creditor's interest as well as monthly payments. The Debtor will work with First-Citizens Bank & Trust Company in order to get an agreed order on this motion. In addition to replacement liens the Debtor-In-Possession is offering to a monthly interest only payment of $2,296. This payment is based upon $550,981.71, at 5% interest. The Debtor believes that the proposed adequate protection for the benefit of the lender is necessary and appropriate to ensure that the Debtor can continue to use the cash collateral. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/flmb17-02849-8.pdf About Orange Park Dental Orange Park, Florida-based Orange Park Dental Professionals, P.A.'s business operations involve owning and operating a dental practice in Orange Park, Florida. Orange Park Dental filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 17-02849) on Aug. 3, 2017, estimating its assets and liabilities at between $500,001 and $1 million each. Jason A. Burgess, Esq., at The Law Offices Of Jason A. Burgess, LLC, serves as the Debtor's bankruptcy counsel. ORANGE PARK DENTAL: Taps Jason A. Burgess as Legal Counsel ---------------------------------------------------------- Orange Park Dental Professionals, P.A. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to employ The Law Offices of Jason A. Burgess, LLC to, among other things, give legal advice regarding its duties under the Bankruptcy Code; negotiate with creditors; and assist in the preparation of a plan of reorganization. The hourly rate for the services of Jason Burgess, Esq., is $295. Paralegals charge $75 per hour. The firm received $13,717, of which $1,717 was used to pay the filing fee. Mr. Burgess disclosed in a court filing that he does not represent any interests adverse to the Debtor's estate or creditors. The firm can be reached through: Jason A. Burgess, Esq. The Law Offices of Jason A. Burgess, LLC 1855 Mayport Road Atlantic Beach, FL 32233 Phone: (904) 372-4791 Email: jason@jasonaburgess.com About Orange Park Dental Professionals Orange Park Dental Professionals, P.A. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. Bankr. M.D. Fla. Case No. 17-02849) on August 3, 2017. Michael T. McClure, its president, signed the petition. At the time of the filing, the Debtor disclosed that it had estimated assets and liabilities of less than $1 million. OSIES INC: Voluntary Chapter 11 Case Summary -------------------------------------------- Debtor: Osies, Inc. 12734 Tanner Road Houston, TX 77041 Type of Business: OSIES, Inc. -- http://www.osies.com/-- was incorporated in December 2003 to supply On- Site Instrumentation & Electrical Services for the equipment for the petroleum industry and, over the years, it added all other complementary service to convert OSIES into a full manufacturing company of equipment for the natural gas and oil industry. Chapter 11 Petition Date: August 17, 2017 Case No.: 17-34996 Court: United States Bankruptcy Court Southern District of Texas (Houston) Judge: Hon. Jeff Bohm Debtor's Counsel: Karen R Emmott, Esq. KAREN R. EMMOTT, ATTORNEY AT LAW 4615 Southwest Freeway, Suite 500 Houston, TX 77027 Tel: 713-739-0008 Fax: 713-481-6262 E-mail: karen.emmott@sbcglobal.net Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jose Rodriguez, president. The Debtor did not file a list of its 20 largest unsecured creditors on the Petition Date. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/txsb17-34996.pdf PAC ANCHOR: Taps Haberbush & Associates as Legal Counsel -------------------------------------------------------- Pac Anchor Transportation, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to employ Haberbush & Associates, LLP to, among other things, give legal advice regarding its rights and duties under the Bankruptcy Code and assist in the preparation of a plan of reorganization. The hourly rates charged by the firm are: David Haberbush $400 Louis Altman $375 Vanessa Haberbush $200 Lane Bogard $175 Gaurav Datta $175 Alexander Haberbush $90 Haberbush received a $85,483 retainer prior to the petition date. David Haberbush, Esq., disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: David R. Haberbush, Esq. Vanessa M. Haberbush, Esq. Lane K. Bogard , Esq. Haberbush & Associates, LLP 444 W Ocean Blvd., Suite 1400 Long Beach, CA 90802 Tel: 562-435-3456 Fax: 562-435-6335 Email: vhaberbush@lbinsolvency.com About Pac Anchor Transportation Pac Anchor Transportation, Inc., was formed from the merger of Pac Anchor Transportation, Inc., and Green Anchor Lines, Inc. Pac Anchor is a trucking company located in Wilmington, California, that provides trucking services throughout the western United States. Pac Anchor filed for Chapter 11 bankruptcy protection (Bankr. C.D. Cal. Case No. 17-18213) on July 6, 2017. Alfredo Barajas, its president, signed the petition. At the time of the filing, the Debtor disclosed $12.08 million in assets and $11.24 million in liabilities. Judge Ernest M. Robles presides over the case. On August 10, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. PAC ANCHOR: Taps Trojan and Company as Accountant ------------------------------------------------- Pac Anchor Transportation, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire an accountant. The Debtor proposes to employ Trojan and Company Accountancy Corp. to, among other things, review its annual financial statements; give tax-related advice; and prepare financial documents during the pendency of its Chapter 11 case. The hourly rates charged by the firm are: Donald Trojan $310 Amanda Trojan $250 Charlene Carpenter $150 Jessica Chompff $150 Trojan received a $50,000 retainer for fees and costs prior to the petition date. Donald Trojan, a certified public accountant, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Donald J. Trojan Trojan and Company Accountancy Corp. 3351 Cerritos Avenue Los Alamitos, CA 90720 Tel: (562) 598-5600 About Pac Anchor Transportation Pac Anchor Transportation, Inc., was formed from the merger of Pac Anchor Transportation, Inc., and Green Anchor Lines, Inc. Pac Anchor is a trucking company located in Wilmington, California, that provides trucking services throughout the western United States. Pac Anchor filed for Chapter 11 bankruptcy protection (Bankr. C.D. Cal. Case No. 17-18213) on July 6, 2017. Alfredo Barajas, its president, signed the petition. At the time of the filing, the Debtor disclosed $12.08 million in assets and $11.24 million in liabilities. Judge Ernest M. Robles presides over the case. On August 10, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. PALMETTO'S SMOKE: Unsecureds to Recover 25% Over 60 Months ---------------------------------------------------------- Palmetto's Smoke House and Oyster Bar LLC filed with the U.S. Bankruptcy Court for the District of South Carolina a disclosure statement dated Aug. 7, 2017, referring to the Debtor's plan of reorganization. Class 6 General Unsecured Claims will be impaired under the Plan. This class will be paid a percentage of their allowed claims without interest after the Effective Date as set forth in the Plan. General unsecured creditors, excluding the Internal Revenue Service, will get a 25% payout through equal installments over 60 months. The IRS filed a proof of claim on March 1, 2017, and an amended claim on May 16, 2017, which included an unsecured portion in the amount of $127,108.95. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/scb17-00649-30.pdf About Palmetto's Smoke House Headquartered in Clemson, South Carolina, Palmetto's Smoke House and Oyster Bar, LLC, filed for Chapter 11 bankruptcy protection (Bankr. D. S.C. Case No. 17-00649) on Feb. 9, 2017, estimating assets of less than $50,000 and liabilities of less than $1 million. Robert H. Cooper, Esq., at The Cooper Law Firm serves as the Debtor's bankruptcy counsel. No official committee of unsecured creditors has been appointed in the case. PANDA TAXI: Case Summary & 7 Unsecured Creditors ------------------------------------------------ Debtor affiliates that recently filed Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- Panda Taxi LLC 17-26678 25 E. 86th Street, #9F New York, NY 10028 Badger Taxi LLC 17-26680 Cannes Taxi Inc. 17-26682 Caramel Taxi LLC 17-26684 Donkey Taxi LLC 17-26685 Dov Jam Cab Corp. 17-26686 Dylan Taxi Inc. 17-26687 Hot Fudge Taxi LLC 17-26689 JDS Trans. Inc. 17-26692 Koala Taxi LLC 17-26693 Macar Service Corp. 17-26694 Marshmallow Taxi LLC 17-26695 Tori & Sarah Hacking Corp. 17-26696 Twinkie Taxi LLC 17-26702 Type of Business: Taxi and Limousine Service Chapter 11 Petition Date: August 17, 2017 Court: United States Bankruptcy Court District of New Jersey (Newark) Judge: Hon. Vincent F. Papalia Debtors' Counsel: Joseph J. DiPasquale, Esq. TRENK, DIPASQUALE, DELLA FERA & SODONO, P.C. 347 Mt. Pleasant Ave, Suite 300 West Orange, NJ 07052 Tel: 973-243-8600 Fax: 973-243-8677 E-mail: jdipasquale@trenklawfirm.com - and - Thomas Michael Walsh, Esq. TRENK, DIPASQUALE, DELLA FERA & SODONO, P.C. 347 Mt. Pleasant Avenue, Suite 300 West Orange, NJ 07052 Tel: 973-243-8600 Fax: 973-243-8677 E-mail: twalsh@trenklawfirm.com Debtors' Special Litigation Counsel: COLE SCHOTZ, P.C. - and - FOX ROTHSCHILD LLP Panda Taxi's Estimated Assets: $100,000 to $500,000 Panda Taxi's Estimated Liabilities: $1 million to $10 million The petitions were signed by Evgeny A. Freidman, managing member. Panda Taxi's list of seven unsecured creditors is available for free at http://bankrupt.com/misc/njb17-22678.pdf Pending bankruptcy cases filed by affiliates: Debtor Date Case No. ------ ------- -------- Ben-Khe Trans. Corp. 6/19/17 17-22502 Bimbo Taxi LLC 6/19/17 17-22503 Byblos Taxi Inc. 6/19/17 17-22505 Cartier Taxi Inc. 6/19/17 17-22507 Dragonfly Taxi Inc. 6/19/17 17-22510 Ducati Tax Inc. 6/19/17 17-22511 Golden Beetle Taxi LLC 6/19/17 17-22514 Grasshopper Taxi LLC 6/19/17 17-22515 Hypnotic Taxi LLC, et al (Admin. Consolidated-Ch 7) 7/22/15 15-43300 Jolly Hacking Corp. 6/19/17 17-22516 London Taxi LLC 6/19/17 17-22506 Moth Taxi LLC 6/19/17 17-22513 NY Kind Taxi Corp. 6/19/17 17-22517 Pelican Taxi LLC 6/19/19 17-22519 Privet Taxi Inc. 6/19/19 17-22520 Purlie Trans Corp. 6/19/19 17-22521 Red Bull Taxi Inc. 11/14/16 16-13153 Saint Tropez Taxi Inc. 6/19/17 17-22524 Split Transit Inc. 6/19/17 17-22522 Taxopark Inc. 12/23/16 16-13570 Trestomos Trans Inc. 6/19/17 17-22523 Wasp Taxi LLC 6/19/17 17-22525 Wolverine Taxi LLC 6/19/17 17-22500 PAS REAL ESTATE: May Use Cash Collateral Through Sept. 30 --------------------------------------------------------- The Hon. Timothy A. Barnes of the U.S. Bankruptcy Court for the Norhtern District of Illinois has authorized PAS Real Estate, LLC - 1460 W Larkin and PAS Real Estate LLC – 308 West New Indian Trail to use cash collateral of BCL-BF2, LLC, as to the Debtor's real estate located at 1460 W. Larkin, Elgin, Illinois, through and including Sept. 30, 2017. BCL is granted replacement liens and security interests in the Debtor's properties. As adequate protection of BCL, 1460 W Larkin stipulates and agrees to pay or cause to be paid directly to BCL, the sum of $2,050 per month starting Aug. 15, 2017, and paid each subsequent month by no later than the 20th day of the month through Sept. 30, 2017. As adequate protection of BCL, 308 West New Indian Trail stipulates and agrees to pay or cause to be paid directly to BCL, the sum of $1,000 per month starting Aug. 15, 2017, and paid each subsequent month by no later than the 20th day of the month through Sept. 30, 2017. The Debtors agree that on April 12, 2017, BCL obtained a judgment in the amount of $2,923,584 plus statutory interest and costs. For the purposes of this case, the Debtors also agree that the prepetition liens of BCL evidenced by the notes, mortgages and collateral assignments of beneficial interest are legal, valid, enforceable, non-avoidable and duly perfected first security interest in, and first liens upon the properties. A status hearing is set for Sept. 26, 2017, at 10:30 a.m. Copies of the Order is available at: http://bankrupt.com/misc/ilnb17-18809-32.pdf http://bankrupt.com/misc/ilnb17-18808-32.pdf About PAS Real Estate LLC PAS Real Estate LLC - 308 West New Indian Trail and PAS Real Estate LLC - 1460 West Larkin sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case Nos. 17-18808 and 17-18809) on June 22, 2017. Aref Senno, managing member, signed the petitions. PAS 308 West estimated assets of less than $50,000 and liabilities of $1 million to $10 million, and PAS 1460 West estimated assets of less than $1 million and liabilities of $1 million to $10 million. Judge Timothy A. Barnes presides over the cases. Paul M. Bach, Esq., and Penelope N. Bach, Esq., at Bach Law Offices, serve as the Debtors' attorneys. PEDRO LOPEZ MUNOZ: 1st Circuit Upholds Denial of Trustee Appt. Bid ------------------------------------------------------------------ The appeals case captioned UNITED SURETY & INDEMNITY COMPANY, Appellant, v. PEDRO LOPEZ-MUNOZ, Appellee, No. 16-9007 (1st Cir.) concerns an appeal from a bankruptcy court's decision, under 11 U.S.C. section 1104(a), to deny a creditor's motion to appoint a trustee for the bankruptcy estate to replace the debtor-in-possession of that estate. Pedro Lopez-Munoz, prior to filing for bankruptcy, was an owner, either in whole or in part, of two petroleum products companies -- Western Petroleum Enterprises, Inc., of which Lopez owned 50% of the shares, and Hi Speed Gas Corp., of which Lopez owned 100% of the shares. Appellant United Surety and Indemnity Co. is one of Mr. Lopez's creditors. USIC became a creditor of Lopez by obtaining an indemnity agreement that Lopez guaranteed for certain of Western Petroleum's obligations. In its appeal, USIC contended that the Bankruptcy Court erred in determining that appointment of a trustee was not justified under section 1104(a)(1). After analyzing all the arguments presented, the U.S. Court of Appeals for the First Circuit affirmed the order of the Bankruptcy Court in an August 9, 2017 decision available at https://is.gd/hGL8Pp from Leagle.com Carlos Lugo Fiol, with whom Hector Saldana-Egozcue, Jose A. Sanchez Girona, and Saldana and Saldana-Egozcue, PSC., were on brief, for appellant USIC. Luisa S. Valle Castro -- ls.valle@condelaw.com -- with whom Carmen D. Conde Torres -- condecarmen@microjuris.com -- and C. Conde and Associates, were on brief, for appellee Pedro Lopez-Munoz. Pedro Lopez-Munoz filed for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No. 13-08171) on Oct. 1, 2013. PEEKAY ACQUISITIONS: Seeks Authorization on Cash Collateral Use --------------------------------------------------------------- Peekay Acquisitions, LLC and affiliates seek authorization from the U.S. Bankruptcy Court for the District of Delaware to use cash collateral and all other pre-petition collateral in accordance with the 13-week cash-flow forecast. The cash-flow forecast spanning the weeks ending August 12, 2017 through October 27, 2017 provides total general operating disbursements of approximately $8,631,888, and non-recurring disbursements in the aggregate sum of $2,165,316. The Debtors' ability to continue their operations without interruption is essential for the Debtors to maximize the value of their estates for the benefit of all stakeholders and avail themselves of the "breathing room" afforded by a chapter 11 restructuring. Absent such authority to use cash collateral, even for a short period of time, the Debtors would be forced to take drastic, value-destroying measures such as ceasing all operations and commencing store level liquidation. The Debtors have recently entered into a proposed stalking horse purchase agreement with TLA Acquisition Corp., an affiliate of the Debtors' senior secured Term A Lenders, which provides for the sale of substantially all the Debtors' assets. The Debtors' ability to conduct this sale process that will allow them to maximize value for all stakeholders is dependent on the Debtors' ability to use cash collateral. Therefore, the Debtors' access to cash is necessary to maintain the value of the Debtors' business and, ultimately, effect a successful sale and reorganization process. Pursuant to a certain Prepetition Financing Agreement by and among the Debtors Christals Acquisition, LLC, Peekay Acquisition, LLC, and certain subsidiaries, and Cortland Capital Market Services LLC, as collateral and administrative agent for the Lenders thereto and, and CB Agency Services, LLC, as origination agent for the Lenders thereto, (1) the Term A Lenders provided the Debtors with Tranche A Term Loans and (2) the Term B Lenders provided the Debtors with Tranche B Term Loans. The Debtors stipulate that, as of the Petition Date: (a) the Term A Financing Agreement Obligations are legal, valid, binding, fully perfected, and non-avoidable obligations in the aggregate liquidated amount of $35,494,500; and (b) the Term B Financing Agreement Obligations are legal, valid, binding, fully perfected, and non-avoidable obligations in the aggregate liquidated amount of $16,466,838. The Debtors will grant Cortland Capital, solely on behalf of the Term A Lenders, continuing valid, binding, enforceable, fully perfected and non-avoidable liens on and post-petition security interests in the Prepetition Collateral, all of the other property, assets and interests in property and assets of the Debtors and all "property of the estate" of the Debtors. Each Term A Lender will also be granted an allowed superpriority administrative expense claim in the Chapter 11 cases and any successor cases which will have priority over any and all other administrative claims against the Debtors. Cortland Capital, solely on behalf of the Term B Lenders, will be granted continuing valid, binding, enforceable, fully perfected and non-avoidable liens on and post-petition security interests in the Collateral, as well as an allowed superpriority administrative expense claim in these Chapter 11 cases and any successor cases, but only if the Term B Lenders consent to the Debtors' use of Prepetition Collateral. A full-text copy of the Debtor's Motion, dated August 10, 2017, is available at https://is.gd/ahB738 About Peekay Acquisition Headquartered in Auburn, Washington, Peekay -- http://www.loverspackage.com-- is a specialty retailer of a broad selection of lingerie, sexual health and wellness products and accessories. Peekay's mission is to provide a warm and welcoming retail environment for individuals and couples to explore sexual wellness. Peekay currently owns and operates 47 retail stores across six states under the brand names "Christals," "LoVerS," "ConReV" and A. "A Touch of Romance." Peekay Acquisitions, LLC and affiliates, each sought Chapter 11 protection on (Bankr. D. Del. Case No. 17-11722(BLS)) on Aug. 10, 2017. The petitions were signed by Albert Altro, chief restructuring officer. Peekay Acquisition estimated its assets at between $10 million and $50 million and its debts at between $50 million and $100 million. Judge Brendan Linehan Shannon presides over the cases. Landis Rath & Cobb LLP serves as the Debtors' bankruptcy counsel. SSG Advisors, LLC, is the Debtors' investment banker. Traverse, LLC, is the Debtors' financial advisor. Rust Consulting/Omni Bankruptcy -- http://omnimgt.com-- Debtors' claims and noticing agent. The Debtors can be reached at: PEEKAY BOUTIQUES, INC. 901 W. Main Street, Suite A Auburn, WA 98001 Attn: Lisa Berman, CEO Telephone: (253) 351-5001 x 118 * E-mail: lisa@peekay.com PETROLEUM SPECIALTY: Wants to Use Midsouth Bank Cash Collateral --------------------------------------------------------------- Petroleum Specialty Rental, LLC, seeks authorization from the U.S. Bankruptcy Court for the Western District of Louisiana to use Midsouth Bank, N.A.'s cash collateral to pay, on a monthly basis, expenses described in the Budget in connection with the operation of its business. The Debtor needs to continue to use the income it generates to pay usual and customary operating expenses, such as utility bills, maintenance expenses, payroll, costs of this Chapter 11 case and other expenses (approximately $71,388) as set forth in the proposed Monthly Budget. However, the Debtor will not expend cash collateral for any capital cost in excess of $10,000 without the approval of Midsouth Bank or order of the Court. The Debtor has three outstanding loans with Midsouth Bank, including a term equipment loan, and two interest only loans. Midsouth Bank has advanced approximately $1,141,680, which the Debtor used to buy equipment and to fund its operations. In connection with the loans, the Debtor granted Midsouth Bank a blanket security interest on substantially all of the Debtor's assets, including all accounts, accounts receivables, inventory, equipment and the proceeds, rents and revenues therefrom. As adequate protection for the use of the cash collateral, the Debtor will establish its Debtor-in-Possession Account at Midsouth Bank and use its DIP Account as its cash collateral account. Any funds coming into the possession of the Debtor that originate from a source other than the Debtor's operations conducted in its ordinary course of business will be deposited into Debtor's DIP Bank Account. The Debtor proposes to grant Midsouth Bank a security interest in and lien upon the cash collateral of the Debtor and upon all postpetition accounts, accounts receivable, inventory and equipment of the Debtor, to the same extent, priority and validity as the security interests of Midsouth Bank that attached to the Debtor's assets prior to the petition date. The Adequate Protection Liens will be in addition to the security interests and liens that Midsouth Bank had in the assets of the Debtor as of the petition date. The Debtor will make adequate protection payments to Midsouth Bank the amount of $5,000 per month, commencing on Sept. 15, 2017, and to continue on the same date of each successive month thereafter until the dismissal or conversion of this case, the confirmation of a Chapter 11 Plan, or the modification or termination of the Cash Collateral Order. The adequate protection payments will be credited to the outstanding amounts owed to Midsouth Bank in accordance with the underlying loan documents. The Debtor will continue to maintain, with financially sound and reputable companies, insurance covering all collateral of Midsouth Bank. In addition, Debtor proposes to provide Bank with a timely copy of Debtor's Chapter 11 monthly operating reports, and any other reports reasonably required by Midsouth Bank will be provided by Debtor A full-text copy of the Debtor's Motion, dated Aug. 9, 2017, is available at https://is.gd/4TUGGv About Petroleum Specialty Petroleum Specialty Rental, LLC, a small business debtor as defined in 11 U.S.C. Sec. 101(51D), is an oil & natural gas company located in Morgan City, Louisiana. The Company posted gross revenue of $808,642 for 2016 and gross revenue of $2.03 million for 2015. Petroleum Specialty filed a Chapter 11 petition (Bankr. W.D. La. Case No. 17-50747) on June 13, 2017. The petition was signed by John Patrick Williamson, chief operating officer. The case is assigned to Judge Robert Summerhays. The Debtor is represented by William C. Vidrine, Esq., at Vidrine & Vidrine, PLLC. The Debtor disclosed $609,954 in total assets and $1.69 million in total liabilities. PETROLIA ENERGY: Files Pro Forma Financial Information ------------------------------------------------------ On the effective date of Sept. 26, 2016, Petrolia Energy Corporation filed a current report on Form 8-K with the Securities and Exchange Commission to report, among other things, the closing of the Company's acquisition of a 90% net working interest in the Slick Unit Dutcher Sands field located in Creek County Oklahoma, based on two separate agreements, the Purchase and Sales Agreement and the Share Exchange Agreement. At that time, the Company stated in the Original Report that it intended to file the required financial statements and pro forma financial information within 71 days from the date that such report was required to be filed. The Company filed an amendment to the Original Report to include the required financial statements and pro forma financial information. The title "SUD's Properties" represents the oil and gas-producing properties included in the Purchase and Sale agreement. Note that from Jan. 1, 2015, through March 2015, SUD's Properties were owned by, and the accounting records were included in, Jovian Resources LLC. During this period, Jovian Resources LLC owned additional oil and gas properties (working interests) to the SUDS Properties that were sold to Petrolia Energy Corporation. Petrolia Energy and the SUDS Properties reported a combined net loss of $2 million on $304,297 of oil and gas sales for the year ended Dec. 31, 2015. For the six months ended June 30, 2016, Petrolia and the SUDS Properties reported a combined net loss of $722,117 on $294,607 of total revenue for the six months ended June 30, 2016. A full-text copy of the Unaudited Pro-forma Combined Statement of Operations is available for free at https://is.gd/ZnJEZV About Petrolia Energy Petrolia Energy Corporation -- http://www.petroliaenergy.com/-- formerly known as Rockdale Resources Corporation, is an oil and gas exploration, development, and production company. With operations in Texas, Oklahoma and New Mexico, the Company focuses on redeveloping existing oil fields in well-established oil rich regions of the U.S., employing industry-leading technologies to create added value. Petrolia Energy reported a net loss of $1.87 million on $321,000 of total revenue for the year ended Dec. 31, 2016, compared with a net loss of $1.85 million on $188,000 of total revenue for the year ended Dec. 31, 2015. As of March 31, 2017, Petrolia Energy had $13.23 million in total assets, $6.62 million in total liabilities and $6.61 million in total stockholders' equity. MaloneBailey, LLP, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that Petrolia Energy has incurred losses from operation since inception and has a net working capital deficiency. These factors raise substantial doubt about the Company's ability to continue as a going concern. PIONEER CARRIERS: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------------- The Office of the U.S. Trustee on August 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Pioneer Carriers, LLC. About Pioneer Carriers Pioneer Carriers, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D. Texas Case No. 16-36356) on December 12, 2016. The petition was signed by Pedro Lagos, president. On February 1, 2017, Transport Dry Freight LLC, an affiliate, filed Chapter 11 petition (Bankr. S.D. Tex. Case No. 17-30551). The case is jointly administered with that of Pioneer under Case No. 16-36356. The cases are assigned to Judge Jeff Bohm. At the time of the filing, Pioneer estimated its assets and liabilities at $1 million to $10 million. Transport Dry Freight estimated assets of less than $50,000 and liabilities of less than $500,000. On July 21, 2017, the Debtors filed a disclosure statement, which explains their proposed Chapter 11 plan of reorganization. POST GREEN FELL: Hires Vanguard as Real Estate Broker ----------------------------------------------------- Post Green Fell LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of California to employ Vanguard Properties, as real estate broker to the Debtor. Post Green Fell requires Vanguard to market and sell the Debtor's property located at 1776 Green Street, 1215 Fell Street and 2360 Post Street, San Francisco. Vanguard will be paid a commission of 4% of the purchase price. Vanguard will also be reimbursed for reasonable out-of-pocket expenses incurred. Richard M. Hills, member of Vanguard Properties, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Vanguard can be reached at: Richard M. Hills VANGUARD PROPERTIES 2501 Mission St. San Francisco, CA 94110-2511 Tel: (415) 519-7774 E-mail: rh@vanguardsf.com About Post Green Fell LLC Based in San Francisco, California, Post Green Fell LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Calif. Case No. 17-30314) on April 4, 2017. The petition was signed by Laurence F. Nasey, manager. The case is assigned to Judge Dennis Montali. The Debtor hired St. James Law, P.C. as counsel. At the time of the filing, the Debtor estimated its assets and debts at $10 million to $50 million. The Debtor says it has no unsecured creditors. The Debtor is an affiliate of 624 Stanyan Street, LLC that sought bankruptcy protection (Bankr. N.D. Cal. Case No. 16-30965) on Sept. 1, 2016. PREMIER KIDS: Wants to Use Cash to Keep Daycare Operations ---------------------------------------------------------- Premier Kids Enrichment Center, LLC, seeks permission from the U.S. Bankruptcy Court for the Western District of Tennessee to use cash collateral to continue operations of daycare facility. The Debtor operates a five-star daycare facility approved by the state of Tennessee in Memphis, Shelby County, servicing approximately 175 children of various ages providing daycare and after-school care. The Debtor requests immediate interim authorization for the use of cash collateral to pay reasonable and necessary operating expenses of the facility. The Debtor adds that is a Tennessee Limited Liability Corporation whose activities are primarily performing as a daycare facility and aftercare (from school) facility for underprivileged students and children in North Memphis. The majority of the funds which are received by the debtor for tuition are provided from federal funds which are administered by the State of Tennessee. The Debtor is not aware of any claim of a security interest in the receivables or the cash on hand of any bank accounts of the Debtor. The Debtor tells the Court that without the use of cash collateral, it would have no option other than to shut down its operation, causing irreparable harm to its customers and diminishing the value of the business as a going concern. A copy of the Debtor's motion is available at: http://bankrupt.com/misc/tnwb17-26254-22.pdf About Premier Kids Enrichment Center Premier Kids Enrichment Center, LLC, operator of a five-star daycare facility approved by the state of Tennessee located at 3473 and 3475 Watkins, Memphis, Shelby County, Tennessee, filed a Chapter 11 petition (Bankr. W.D. Tenn. Case No. 17-21855). The case, filed on March 1, 2017, was dismissed on April 27, 2017. Premier Kids again sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 17-26254) on July 18, 2017. Harry L. Smith, managing member, signed the petition. At the time of the filing, the Debtor estimated assets and liabilities of less than $50,000. Judge Jennie D. Latta presides over the case. Joseph E. Garrett, Esq., in Memphis, serves as counsel. No trustee or examiner has been appointed in this case, and the U.S. Trustee has not appointed any committee of unsecured creditors. PRO-SPEC CORP: Has Interim Approval to Use Cash Collateral ---------------------------------------------------------- The Hon. Jerrold N. Poslusny, Jr., of the U.S. Bankruptcy Court for the District of New Jersey entered an order authorizing Pro-Spec Corporations to use cash collateral through Aug. 16, 2017. As reported by the Troubled Company Reporter on Aug. 14, 2017, the Debtor sought court permission to use its cash and accounts on non-bonded projects to continue operations of its business from July 31, 2017, through Sept. 1, 2017. Prior to the Petition Date, the Debtor entered into a revolving line of credit for a total of $400,000 with Capital Bank. The line of credit with Capital Bank was to be used by the Debtor to support the Debtor's working capital needs. Capital Bank holds a first perfected security interest in all of the Debtor's assets. The current outstanding balance on the line of credit is $191,000. Capital Bank also has a series of equipment loans. As such, Capital Bank has an interest in cash collateral on non-bonded projects. As adequate protection for use of its cash collateral, Capital Bank is granted replacement lien. To the extent the adequate protection provided for hereby proves insufficient to protect Capital Bank's interest in and to the cash collateral, it will have a super-priority administrative expense claim, pursuant to Section 507(b) of the U.S. Bankruptcy Code, senior to any and all claims against the Debtor under Section 507(a) of the Bankruptcy Code, whether in this proceeding or in any superseding proceeding, subject to payments due under 28 U.S.C. Section 1930(a)(6). A copy of the court order is available at: http://bankrupt.com/misc/njb17-25463-14.pdf About Pro-Spec Founded in 1980, Pro-Spec Industrial Painting Services, an SSPC QP1, QP2 Certified Contractor, offers industrial coatings, abrasive blast preparation, and containment of concrete and steel structures. Based in Vineland, New Jersey, Pro-Spec filed a Chapter 11 petition (Bankr. D.N.J. Case No. 17-25463) on July 31, 2017. The petition was signed by Ronald W. Yarbrough, president. At the time of filing, the Debtor estimated 100,000 to $500,000 in assets and $1 million to $10 million in liabilities. The case is assigned to Judge Jerrold N. Poslusny Jr. Albert A. Ciardi, III, Esq., at Ciardi Ciardi & Astin, serves as counsel to the Debtor. QUEST PATENT: Reports $306,343 Net Loss for Second Quarter ---------------------------------------------------------- Quest Patent Research Corporation filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss of $306,343 on $635,407 of revenues for the three months ended June 30, 2017, compared to a net loss of $431,781 on $325,099 of revenues for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss of $569,660 on $651,215 of revenues compared to a net loss of $802,695 on $484,260 of revenues for the same period during the prior year. As of June 30, 2017, Quest Patent had $1.94 million in total assets, $3.85 million in total liabilities and a total stockholders' deficit of $1.90 million. At June 30, 2017, the Company had current assets of approximately $20,000, and current liabilities of approximately $3,850,000. The Company's current liabilities include $1,000,000 payment due to Intellectual Ventures on account of the purchase price of the patent portfolios it purchased from Intellectual Ventures and loans payable of $163,000 and accrued interest of approximately $257,000 due to former directors and minority stockholders. The Company's agreement with United Wireless requires United Wireless to lend the Company the funds to make the payments to Intellectual Ventures. As of June 30, 2017, the Company has an accumulated deficit of approximately $15,952,000 and a negative working capital of approximately $3,830,000. Other than salary to its chief executive officer, the Company does not contemplate any other material operating expense in the near future other than normal general and administrative expenses, including expenses relating to its status as a public company filing reports with the SEC. "We cannot assure you that we will be successful in generating future revenues, in obtaining additional debt or equity financing or that such additional debt or equity financing will be available on terms acceptable to us, if at all, or that we will be able to obtain any third-party funding in connection with any of our intellectual property portfolios. We have no credit facilities. "We have an agreement with a funding source which is providing litigation financing in connection with our pending litigation relating to our mobile data portfolio, and we have two agreements with a second funding source which is providing litigation financing in connection with our pending litigation relating to our power management/bus control and anchor structure portfolios. We cannot predict the success of any pending or future litigation. Our obligations to United Wireless are not contingent upon the success of any litigation. If we fail to generate a sufficient recovery in these actions (net of any portion of any recovery payable to the funding source or our legal counsel) in a timely manner to enable us to pay United Wireless on the present loans and the additional loans which United Wireless has agreed to make to us, we would be in default under our agreements with United Wireless which could result in United Wireless obtaining ownership of the three subsidiaries which own the patent rights we acquired from Intellectual Ventures. Our agreements with the funding sources provide that the funding sources will participate in any recovery which is generated. We believe that our financial condition, our history of losses and negative cash flow from operations, and our low stock price make it difficult for us to raise funds in the debt or equity markets." A full-text copy of the Form 10-Q is available for free at: https://is.gd/KaadZY About Quest Patent Quest Patent Research Corporation is an intellectual property asset management company. The Company's principal operations include the development, acquisition, licensing and enforcement of intellectual property rights that are either owned or controlled by the Company or one of its wholly owned subsidiaries. The Company currently owns, control or manage eight intellectual property portfolios, which principally consist of patent rights. The Company's eight intellectual property portfolios include the three portfolios which the Company acquired in October 2015 from Intellectual Ventures Assets 16, LLC. Quest Patent reported a net loss of $956,092 on $1.26 million revenues for the year ended Dec. 31, 2016, compared with a net loss of $327,270 on $498,395 of revenue for the year ended Dec. 31, 2015. MaloneBailey, LLP, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has incurred a series of net losses resulting in negative working capital as of Dec. 31, 2016. These conditions raise substantial doubt as to the Company's ability to continue as a going concern. RANCO COACHELLA: Taps Timothy P. Thomas as Legal Counsel -------------------------------------------------------- 06-009 Ranco Coachella Business Trust seeks approval from the U.S. Bankruptcy Court for the District of Nevada to hire legal counsel. The Debtor proposes to employ the Law Offices of Timothy P. Thomas, LLC to give legal advice regarding its duties under the Bankruptcy Code and provide other legal services related to its Chapter 11 case. The firm will charge an hourly fee of $350 for the services of its attorneys and $125 for paralegal services. It received a pre-bankruptcy retainer of $15,000 from the Debtor to prepare the filing of the case and to negotiate with creditors. Thomas does not have any connection with the Debtor or any of its creditors, according to court filings. The firm can be reached through: Timothy P. Thomas, Esq. Law Offices of Timothy P. Thomas, LLC 1771 E. Flamingo Rd, Ste B-212 Las Vegas, NV 89119 Tel: (702) 227-0011 Fax: (702) 227-0334 Email: tthomas@tthomaslaw.com About 06-009 Ranco Coachella Business Trust 06-009 Ranco Coachella Business Trust sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nevada Case No. 17-12101) on April 26, 2017. Peter Becker, manager of trustee, signed the petition. 06-009 Ranco Coachella Business Trust is a single asset real estate (as defined in 11 U.S.C. Section 101(51B)). It owns a fee simple interest in a property located in Coachella, California, with a valuation of $2.21 million. At the time of the filing, the Debtor disclosed $2.49 million in assets and $1.55 million in liabilities. Judge Mike K. Nakagawa presides over the case. The Debtor previously sought bankruptcy protection (Bankr. D. Nev. Case No. 13-13423) on April 22, 2013. REX ENERGY: McDonough Quits as SVP, Gen. Counsel and Secretary -------------------------------------------------------------- Jennifer L. McDonough tendered her resignation from her position as senior vice president, general counsel and secretary for Rex Energy Corporation and its wholly owned subsidiary, Rex Energy Operating Corp. To facilitate an orderly transition of her duties and responsibilities, Ms. McDonough will remain in her role with the Company through Sept. 8, 2017. On Aug. 11, 2017, the Company entered into agreements to provide change in control protections with certain executives, including, but not limited to, Thomas Rajan, its chief financial officer; Robert Ovitz, its chief operating officer; and Scott Hodges, its senior vice president, land and business development. Each of Messrs. Rajan, Ovitz, and Hodges are named executive officers in the Company's 2017 Definitive Proxy Statement. The agreements, which are intended to aid retention, are double trigger agreements that provide for customary protections in the context of a change in control transaction. They have an initial term that commences Aug. 11, 2017, and expires Dec. 31, 2019; thereafter, the agreements will automatically renew each December 31 for one additional year unless terminated by either party at least 90 days prior to autorenewal. If a change in control transaction occurs when there is less than 12 months remaining during the term, the then-current term will extend automatically through the date that is 12 months following the effective date of the change in control transaction. The agreements provide that if the executive's employment is terminated, or the executive resigns with "Good Reason", in either case as a "Direct Result" of a "Change in Control" transaction or within 12 months of the consummation of the transaction, the executive, after satisfying certain eligibility criteria, will be paid a severance benefit equal to 18 months of his or her annual base salary as in effect prior to the termination or resignation. The Company will also reimburse premiums for COBRA healthcare continuation coverage for a period of 18 months. Payment of the benefits is contingent upon, among other things, the executive's execution of a release in favor of the Company within 60 days of termination of employment. The terms "Good Reason," "Direct Result," and "Change in Control," and other terms, are specifically defined in the agreements. The agreements are not employment agreements, and all recipients remain "at will" employees as defined under applicable law; as such, either the Company or the recipient may terminate the employment relationship at any time and for any lawful reason. About Rex Energy Headquartered in State College, Pennsylvania, Rex Energy is an independent oil and gas exploration and production company with its core operations in the Appalachian Basin. The Company's strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio. Rex Energy reported a net loss of $176.7 million on $139.0 million of total operating revenue for the year ended Dec. 31, 2016, compared to a net loss of $361.0 million on $138.7 million of total operating revenue for the year ended Dec. 31, 2015. As of June 30, 2017, Rex Energy had $905.57 million in total assets, $901.87 million in total liabilities and $3.69 million in total stockholders' equity. * * * As reported by the TCR on June 8, 2017, S&P Global Ratings said that its corporate credit rating on Rex Energy Corp. remains 'SD'. The 'SD' rating reflects S&P's assessment that there is the potential for additional exchanges of the company's remaining unsecured and secured notes. RICHMOND LIBERTY: Court Approves Latest Disclosure Statement ------------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of New York on Aug. 11, 2017, approved the disclosure statement, which explains the Chapter 11 plan of reorganization for Richmond Liberty LLC. Under the plan, each Class 1 unsecured creditor will receive cash in the full amount of its allowed claim, plus interest from the petition date, within five business days of the closing. The plan also provides for Richmond Liberty to close on the contract it entered into with WF Liberty LLC in 2013 to purchase real properties in Staten Island, New York. The purchase price under the contract is $8.5 million, according to the company's latest disclosure statement filed on August 10. A copy of the amended disclosure statement is available for free at https://is.gd/qzfh92 About Richmond Liberty Richmond Liberty LLC is a New York limited liability company that provides transportation services. Brian Shatz and Joshua Zegen each owns 50% of the membership interests in the Debtor. Richmond Liberty filed a bare-bones Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 15-44866) on Oct. 29, 2015. David Speiser, vice-president, signed the petition. The Debtor estimated both assets and liabilities in the range of $10 million to $50 million. Judge Elizabeth S. Stong is assigned to the case. The Debtor employed Robinson Brog Leinwand Greene Genovese & Gluck P.C. as counsel. On June 13, 2017, the Debtor filed its proposed Chapter 11 plan of reorganization. RISE ENTERPRISES: Wants to Use Cash Collateral Until Sept. 5 ------------------------------------------------------------ Rise Enterprises, S.E., and creditor Banco Populuar de Puerto Rico, Inc., filed with the U.S. Bankruptcy Court for the District of Puerto Rico a joint motion regarding a provisional agreement for the Debtor's use of the Creditor's cash collateral. A provisional agreement was reached on Aug. 3, 2017, wherein Banco Popular de Puerto Rico consents to the use of cash collateral until Sept. 5, 2017, and in exchange thereof the Debtor will pay $2,684 as interim adequate protection. This payment was accepted based on the preliminary budget submitted by the Debtor. Given that Banco Popular de Puerto Rico's consent for the use of its cash collateral beyond Sept. 5, 2017, will require future discussions and a definite agreement, it hereby expressly reserves all of its rights and remedies regarding the use of said moneys as provided by Section 363 of the U.S. Bankruptcy Code and its interpretative case law. A copy of the Joint Motion is available at: http://bankrupt.com/misc/prb17-04678-27.pdf About Rise Enterprises Rise Enterprises, S.E., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 17-04678) on June 30, 2017. Ismael Falcon Ortega, partner, signed the petition. The Debtor estimated assets of less than $1 million and liabilities of $1 million to $10 million. Judge Mildred Caban Flores presides over the case. Mary Ann Gandia, Esq., at Gandia-Fabian Law Office, serves as the Debtor's bankruptcy counsel. RONIC INC: Case Summary & 8 Unsecured Creditors ----------------------------------------------- Debtor affiliates that filed Chapter 11 petitions: Debtor Case No. ------ -------- Ronic Inc. 17-26758 dba Venice Bakery 173 Ray Street Garfield, NJ 07026 Aiello Realty Holding LLC 17-26759 173 Ray Street Garfield, NJ 07026 Type of Business: Ronic Inc. d/b/a Venice Bakery -- http://www.venicebakery.net-- owns a wholesale and retail bakery offering a wide array of fresh baked breads, Italian pastries, cakes, cookies and coffee. Its bread is baked and delivered fresh daily- 7 days a week to New Jersey, New York and Pennsylvania areas. Chapter 11 Petition Date: August 17, 2017 Court: United States Bankruptcy Court District of New Jersey (Newark) Judge: Hon. Stacey L. Meisel Debtors' Counsel: Daniel M. Eliades, Esq. LECLAIRYAN, A PROFESSIONAL CORPORATION One Riverfront Plaza 1037 Raymond Boulevard Sixteenth Floor Newark, NJ 07102 Tel: 973-491-3303 Fax: 973-491-3555 E-mail: daniel.eliades@leclairryan.com Estimated Estimated Assets Liabilities ---------- ----------- Ronic Inc. $500K-$1M $1M-$10M Aiello Realty $1M-$10M $1M-$10M The petitions were signed by Nicola Aiello, president. Ronic Inc.'s list of eight unsecured creditors is available for free at http://bankrupt.com/misc/njb17-26758.pdf Aiello Realty's list of two unsecured creditors is available for free at http://bankrupt.com/misc/njb17-26759.pdf RPM HARBOR: Committee Taps CohnReznick as Financial Advisor ----------------------------------------------------------- The Official Committee of Unsecured Creditors of RPM Harbor Services, Inc., seeks authorization from the U.S. Bankruptcy Court for the Central District of California to retain CohnReznick LLP, as financial advisor to the Committee. The Committee requires CohnReznick LLP to: a. ascertain the viability of the Debtor; b. analyze and review key motions to identify strategic financial issues in the bankruptcy case; c. monitor and report to the Committee regarding the Debtor's post-petition operating results and cash flows; d. review the books and records of the Debtor for related party, fraudulent transactions, and preferences; e. analyze the Debtor's forecasts and budgets for purposes of analyzing plan feasibility and other plan confirmation requirements; f. provide forensic accounting services to identify and quantify asset transfers or hidden assets and the extent to which insiders, i.e., officers, directors and owners, and third parties benefited to the detriment of the unsecured creditors; g. investigate and analyze all potential avoidance action claims; h. assist in the preparation of a chapter 11 plan; i. review and analyze the Debtor's historical financial information; j. assist the Committee in negotiations with the Debtor and other parties in interest; k. provide litigation support services if necessary and appropriate to any litigation undertaken by the Committee; and l. render such assistance as the Committee and its counsel deem necessary. CohnReznick LLP will be paid at these hourly rates: Partners/Managing Directors $450-$650 Managers/Senior Managers/Directors $650 Professional Staff $300-$440 Paraprofessionals $205 CohnReznick LLP will also be reimbursed for reasonable out-of-pocket expenses incurred. Kevin P. Clancy, a partner of CohnReznick LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtor; (b) has not been, within two years before the date of the filing of the Debtor' chapter 11 petition, directors, officers or employees of the Debtor; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtor, or for any other reason. CohnReznick LLP can be reached at: Kevin P. Clancy COHNREZNICK LLP 1301 Avenue of the Americas New York, NY 10019 Tel: (212) 297-0400 About RPM Harbor Services, Inc. Based in Long Beach, California, RPM Harbor Services Inc. provides container delivery to import and export customers in California. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 17-14484) on April 12, 2017. The petition was signed by Shawn Duke, president. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. The case is assigned to Judge Julia W. Brand. The Office of the U.S. Trustee on May 8, 2017, appointed five creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of RPM Harbor Services, Inc. The Committee hired Levene, Neale, Bender, Yoo & Brill, LLP as counsel, and CohnReznick LLP, as financial advisor. RUNNING M RANCH: Hires Klingenberg & Associates as Accountant ------------------------------------------------------------- Running "M" Ranch Trust seeks authority from the U.S. Bankruptcy Court for the Eastern District of Oklahoma to employ Klingenberg & Associates, P.C., as accountant to the Debtor. Running M Ranch requires Klingenberg & Associates to: -- render general bookkeeping services; -- prepare required reports for the Bankruptcy Court; -- prepare required tax returns; -- provide legal advice and assistance in relation to tax and business trust matters; and -- provide assistance as needed in the bankruptcy case. Klingenberg & Associates will be paid at the hourly rate of $150 to $350. Klingenberg & Associates received from the Debtor $3,000 on October 28, 2016, $10,000 on January 9, 2017, $5,000 on April 8, 2017, and $1,500 on June 16, 2017. The remaining retainer of $4,912.51 was held in the firm's trust account. Klingenberg & Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Kenneth W. Klingenberg, a partner of Klingenberg & Associates, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Klingenberg & Associates can be reached at: Kenneth W. Klingenberg KLINGENBERG & ASSOCIATES, P.C. 330 N.W. 13th Street Oklahoma City, OK 73103 Tel: (405) 236-1985 Fax: (405) 236-1541 About Running M Ranch Trust Running "M" Ranch Trust, filed a Chapter 11 bankruptcy petition (Bankr. E.D. Okla. Case No. 17-80831) on July 28, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Karen Carden Walsh, Esq., at Riggs Abney Neal Turpen Orbison & Lewis. RUNNING M RANCH: Hires Riggs Abney as Counsel --------------------------------------------- Running "M" Ranch Trust seeks authority from the U.S. Bankruptcy Court for the Eastern District of Oklahoma to employ Riggs Abney Neal Turpen Orbison & Lewis, as attorney to the Debtor. Running "M" Ranch requires Riggs Abney to: a. prepare Schedules, Statement of Financial Affairs and other pleadings; b. negotiate allowed claims and treatment of creditors; c. render legal advice and prepare legal documents and pleadings concerning claims of creditors, post-petition financing, execute contracts, sale of assets, insurance; d. represent the Debtor in hearings and other contested matters; and e. formulate a disclosure statement and plan of reorganization. Riggs Abney will be paid at the hourly rate of $95 to $325. Riggs Abney was paid $1,500 on February 28, 2017, $50,000 on April 5, 2017, and $50,000 on April 18, 2017 by the Debtor. The sum of $15,188.19 was applied to contemporaneous services rendered, and $1,717 as filing fee. The remaining amount of $84,594.81 was held in the Riggs Abney's trust account. Riggs Abney will also be reimbursed for reasonable out-of-pocket expenses incurred. Karen Carden Walsh, a member of Riggs Abney Neal Turpen Orbison & Lewis, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Riggs Abney can be reached at: Karen Carden Walsh, Esq. RIGGS ABNEY NEAL TURPEN ORBISON & LEWIS 502 W. 6th Street Tulsa, OK 74119 Tel: (918) 587-3161 Fax: (918) 587-9708 About Running "M" Ranch Trust Running "M" Ranch Trust, filed a Chapter 11 bankruptcy petition (Bankr. E.D. Okla. Case No. 17-80831) on July 28, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Karen Carden Walsh, Esq., at Riggs Abney Neal Turpen Orbison & Lewis. SAM WYLY: Sale of SL LLC's Dallas Property for $870K Approved ------------------------------------------------------------- Judge Barbara J. Houser of the U.S. Bankruptcy Court for the Northern District of Texas authorized Samuel Evans Wyly's sale of a real property owned by Spitting Lion, LLC located at 4144 Stanhope Avenue, Dallas, Texas, to John Graham and Lisa Wyly for $870,154. The Debtor is authorized to distribute the proceeds as set forth in the Motion to the segregated DIP account, and to the SEC as a credit against the settlement amount owed pursuant to the SEC Settlement Agreement. The statutory ad valorem tax liens that secure all amounts ultimately owed for year 2017 ad valorem property taxes will remain attached to the property and become the responsibility of the Purchaser. About Sam Wyly Sam Wyly is a lifelong entrepreneur and author. His first book, 1,000 Dollars & An Idea, is a biography that tells his story of creating and building companies, including University Computing, Michaels Arts & Crafts, Sterling Software, and Bonanza Steakhouse. His second book, Texas Got It Right!, co-authored with his son, Andrew, was gifted to roughly 450,000 students and teachers, thought leaders, and readers, and continues to be a best-seller in its Amazon category. Samuel Wyly filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 14-35043) on Oct. 19, 2014, weeks after a judge ordered him to pay several hundred million dollars in a civil fraud case. In September 2014, a federal judge ordered Mr. Wyly and the estate of his deceased brother to pay more than $300 million in sanctions after they were found guilty of committing civil fraud to hide stock sales and nab millions of dollars in profits. About Caroline Wyly Caroline Wyly is the widow of business tycoon Charles Wyly. She and her brother-in-law Sam Wyly sought Chapter 11 bankruptcy protection as leverage to settle a looming tax bill and a $329 million claim from the Securities and Exchange Commission. Her bankruptcy is In re Caroline D. Wyly, 14-35074, in U.S. Bankruptcy Court, Northern District Texas (Dallas). SED INTERNATIONAL: Court Extends Plan Filing Until Oct. 4 --------------------------------------------------------- Judge Wendy L. Hagenau of the U.S. Bankruptcy Court for the Northern District of Georgia extended SED International Holdings, Inc., and SED International, Inc.'s exclusive periods for filing a plan of reorganization and soliciting acceptances to the plan, to Oct. 4, 2017, and Dec. 5, 2017, respectively. This is the Debtor's second motion requesting for an extension of the exclusive periods. About SED International Founded in 1980, SED International Holdings, Inc., is a multinational, preferred distributor of leading computer technology, consumer electronics, and small appliance products. The company also offers custom-tailored supply chain management services ideally suited to meet the priorities and distribution requirements of the e-commerce, business-to-business and business-to-consumer markets. Headquartered near Atlanta, Georgia with business operations in California; Florida; Georgia; Bogota, Colombia and Buenos Aires, Argentina, SED serves a customer base of over 10,000 channel partners and retailers in the United States, Latin America, and Caribbean. On Feb. 24, 2016, Hill, Kertscher & Wharton, LLC, filed an involuntary petition for relief under Chapter 7 of the Bankruptcy Code against Holdings. Alan Rothman joined in the involuntary petition on March 31, 2016, and Brother International Corp. on April 6, 2016. On Sept. 14, 2016, the court converted the Chapter 7 case to one under Chapter 11 (Bankr. N.D. Ga. Case No. 16-53376). Based in Lawrenceville, Ga., SED International, Inc., filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ga. Case No. 16-66019) on Sept. 9, 2016, listing under $1 million in total assets and between $10 million to $50 million in liabilities. The petition was signed by Sham Gad, CEO. The Debtors' cases are being jointly administered under Case No. 16-53376. No official committee of unsecured creditors, trustee or examiner has been appointed in the cases. Robert J. Williamson, Esq., and Ashley Reynolds Ray, Esq., at Scroggins & Williamson P.C., serve as the Debtors' counsel. Finley, Colmer and Company was tapped by the Debtors to provide interim management services. Heritage & FB Consultant Group S.A.S. is the investment banker. SEMLER SCIENTIFIC: Incurs $850,000 Net Loss in Second Quarter ------------------------------------------------------------- Semler Scientific, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss of $850,000 on $2.57 million of revenue for the three months ended June 30, 2017, compared to a net loss of $966,000 on $1.63 million of revenue for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss of $1.72 million on $4.63 million of revenue compared to a net loss of $1.97 million on $3.13 million of revenue for the six months ended June 30, 2016. As of June 30, 2017, Semler had $3.15 million in total assets, $6.79 million in total liabilities and a total stockholders' deficit of $3.63 million. The Company had cash of $496,000 at June 30, 2017, compared to $622,000 at Dec. 31, 2016, and total current liabilities of $4,975,000 at June 30, 2017, compared to $3,229,000 at December 31, 2016. As of June 30, 2017, the Company had negative working capital of approximately $3,494,000. "We have incurred recurring losses since inception and expect to continue to incur losses as a result of costs and expenses related to our marketing and other promotional activities, continued research and development of our products and services. Our principal sources of cash have included the issuance of equity, including our February 2014 initial public offering of common stock, and to a lesser extent, recent private placement offerings of common stock, borrowings under loan agreements, the issuance of promissory notes, and revenue from leasing our product and selling our testing services. We expect that our operating expenses will continue to grow in order to grow our revenues and, as a result, we will need to generate significant additional net revenues to achieve profitability. For these reasons, our independent registered public accountants' report for the year ended December 31, 2016 includes an explanatory paragraph that expresses substantial doubt about our ability to continue as a "going concern." "Although we do not have any current capital commitments, we expect that we may increase our expenditures to continue our efforts to grow our business and commercialize our products and services. Accordingly, we currently expect to make additional expenditures in both sales and marketing, and invest in our corporate infrastructure. We also expect to invest in our research and development efforts. We do not have any definitive plans as to the exact amounts or particular uses at this time, and the exact amounts and timing of any expenditure may vary significantly from our current intentions. However, in order to execute on our business plan, and given our current available cash, we anticipate that we will need to raise additional capital. To improve operating cash flow, in 2015, we implemented measures to reduce expenses and renegotiated longer payment terms in our existing contracts, which carried through 2016. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on acceptable terms or whether or not we will generate sufficient revenues to become profitable and have positive operating cash flow. If we are unable to raise sufficient additional funds when necessary, we may need to curtail making additional expenditures and could be required to scale back our business plans, or make other changes until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful." A full-text copy of the Form 10-Q is available for free at: https://is.gd/eVuLmL About Semler Scientific Semler Scientific, Inc. -- http://www.semlercientific.com/-- provides diagnostic and testing services to healthcare insurers and physician groups. The Portland, Oregon-based Company develops, manufactures and markets proprietary products and services that assist healthcare providers in evaluating and treating chronic diseases. Semler Scientific reported a net loss of $2.55 million on $7.43 million of total revenue for the year ended Dec. 31, 2016, compared to a net loss of $8.50 million on $7 million of total revenue for the year ended Dec. 31, 2015. BDO USA, LLP, in New York, New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has negative working capital, a stockholders' deficit, recurring losses from operations and expects continuing future losses that raise substantial doubt about its ability to continue as a going concern. SEVEN OAKS: Liquidation Analysis Modified in 3rd Amended Plan ------------------------------------------------------------- Seven Oaks Partners, LP, filed with the U.S. Bankruptcy Court for the District of Connecticut a third amended disclosure statement referring to its proposed third amended plan of reorganization. This version of the plan made several changes to its liquidation analysis. It now asserts that the Debtor expects to receive an additional $6,588 from the Blechman bankruptcy estate. It also states that a chapter 7 proceeding would include the costs of a chapter 7 trustee's commission and exclude advances by Wilnin Capital to pay real estate tax obligations which enable the Debtor to market the Greenwich Property and maximize a recovery. The Debtor's assets include cash in its bank account (approximately $7,000) and loan receivables in collection of more than $1.8 million. Due to collectability questions regarding the receivables, the Debtor is unable to project how much it will recover from the receivables. With regard to the funding, the third amended plan adds that Wilnin Capital has agreed to fund the payment of the Debtor's real estate tax obligations when due for at least three years after the Effective Date and shall not seek to recover any such funds from the Debtor or its property. If the Greenwich Property is not sold after such three-year period, the Debtor will seek to retain a licensed real estate auction company to auction the Greenwich Property after at least forty-five days of marketing by the auction company and pay its obligations under the Plan. The Troubled Company Reporter previously reported that the Debtor will utilize funds realized from Wilnin Capital and the sale of the Greenwich Property to fund payments due under the Plan. A full-text copy of the Third Amended Disclosure Statement is available at: http://bankrupt.com/misc/ctb12-50168-540.pdf About Seven Oaks Partners Seven Oaks Partners, LP, was formed in February 2000 and operated a successful real estate business that purchased, developed, managed and sold real estate. Seven Oaks filed a Chapter 11 bankruptcy petition (Bankr. D. Conn. Case No. 12- 50168) on Jan. 31, 2012. Judge Alan S. Trust presides over the case. Douglas S. Skalka, Esq., at Neubert, Pepe & Monteith, P.C., serves as counsel to the Debtor. SHORT BARK: Committee Hires Gellert Scali as Delaware Counsel ------------------------------------------------------------- The Official Committee of Unsecured Creditors of Short Bark Industries, Inc., et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Gellert Scali Busenkell & Brown, LLC, as Delaware counsel to the Committee. The Committee requires Gellert Scali to: (a) provide legal advice regarding local rules, practices and procedures and provide substantive and strategic advice on how to accomplish Committee goals, bearing in mind that the Delaware Bankruptcy Court expects Delaware counsel to be involved on all aspects of bankruptcy proceedings; (b) draft, review and comment on drafts of documents to ensure compliance with local rules, practices and procedures; (c) take the lead on discrete pleading and matters as appropriate and requested, while ensuring that there is no duplication of services with Lowenstein; (d) draft, file and serve documents as requested by Lowenstein Sandler LLP; (e) prepare certificates of no objection, certifications of counsel and notices of fee applications; (f) print documents and pleadings for hearings, prepare binders of documents and pleadings for hearings; (g) appear in Court and at any meeting of creditors on behalf of the Committee in its capacity as Delaware counsel; (h) monitor the docket for filings and coordinating with Lowenstein on pending matters that may need responses; (i) participate in calls with the Committee; and (j) provide additional legal and administrative support to Lowenstein, as requested. Gellert Scali will be paid at these hourly rates: Partner $425 Associates/Of Counsel $280 Paraprofessionals $105-$210 Gellert Scali will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Busenkell, a partner of Gellert Scali Busenkell & Brown, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Gellert Scali can be reached at: Michael Busenkell, Esq. GELLERT SCALI BUSENKELL & BROWN, LLC 1201 N. Orange Street, Suite 300 Wilmington, DE 19801 Tel: (302) 425-5800 About Short Bark Industries, Inc. Short Bark Industries, Inc. -- http://www.shortbark.com/-- provides military apparels for the Department of Defense, law enforcement industry. The company's manufactured items in the military category include military MOLLE, medium and large rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers, FROG, A2CU and more. It offers men and boys suits, over garments, bag, and coats. The company holds over 120,000+ square feet of manufacturing capacity with operations in Florida, Puerto Rico and Tennessee. Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr. D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions were signed by Phil Williams, CEO and chairman. The Debtors listed total assets of $10 million to $50 million and total liabilities of $10 million to $50 million. Bielli & Klauder, LLC serves as lead bankruptcy counsel to the Debtors. The Debtors hired SSG Advisors, LLC and Young America Capital, LLC as investment banker. On July 18, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell & Brown, LLC, as Delaware counsel, Teneo Restructuring and Teneo Capital LLC, as investment banker. SHORT BARK: Creditors' Panel Hires Lowenstein Sandler as Counsel ---------------------------------------------------------------- The Official Committee of Unsecured Creditors of Short Bark Industries, Inc., et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Lowenstein Sandler LLP, as counsel to the Committee. The Committee requires Lowenstein Sandler to: a. advise the Committee with respect to its rights, duties, and powers in the Chapter 11 Cases; b. assist and advise the Committee in its consultations with the Debtors relative to the administration of the Chapter 11 Cases; c. assist the Committee in analyzing the claims of the Debtors' creditors and the Debtors' capital structure and in negotiating with holders of claims and equity interests; d. assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and of the operation of the Debtors' businesses; e. assist the Committee in its investigation of the liens and claims of the holders of the Debtors' pre-petition debt and the prosecution of any claims or causes of action revealed by such investigation; f. assist the Committee in its analysis of, and negotiations with, the Debtors or any third party concerning matters related to, among other things, the assumption or rejection of certain leases of nonresidential real property and executory contracts, asset dispositions, financing of other transactions and the terms of one or more plans of reorganization for the Debtors and accompanying disclosure statements and related plan documents; g. assist and advise the Committee as to its communications to unsecured creditors regarding significant matters in the Chapter 11 Cases; h. represent the Committee at hearings and other proceedings; i. review and analyze applications, orders, statements of operations, and schedules filed with the Court and advise the Committee as to their propriety; j. assist the Committee in preparing pleadings and applications as may be necessary in furtherance of the Committee's interests and objectives; k. prepare, on behalf of the Committee, any pleadings, including without limitation, motions, memoranda, complaints, adversary complaints, objections, or comments in connection with any of the foregoing; and l. perform such other legal services as may be required or are otherwise deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. Lowenstein Sandler will be paid at these hourly rates: Partners $600-$1,195 Senior Counsel and Counsel $420-$700 Associates $315-$595 Paralegals and Assistants $115-$310 Lowenstein Sandler will also be reimbursed for reasonable out-of-pocket expenses incurred. In accordance with the U.S. Trustee Guidelines, Lowenstein Sandler shall apply for compensation for professional services rendered and reimbursement of expenses incurred in connection with the Debtors' Chapter 11 Cases in compliance with sections 330 and 331 of the Bankruptcy Code and applicable provisions of the Bankruptcy Rules, Local Rules and any other applicable procedures and orders of the Court. Lowenstein Sandler also intends to make every effort to comply with the U.S. Trustee's requests for information and additional disclosures as set forth in the U.S. Trustee Guidelines, both in connection with the Application and the interim and final fee applications to be filed by Lowenstein Sandler in these Capter 11 Cases. Mary E. Seymour, a partner of Lowenstein Sandler LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Lowenstein Sandler can be reached at: Mary E. Seymour, Esq. LOWENSTEIN SANDLER LLP 65 Livingston Avenue Roseland, NJ 07068 Tel: (973) 597-2500 Fax: (973) 597-2400 About Short Bark Industries, Inc. Short Bark Industries, Inc. -- http://www.shortbark.com/-- provides military apparels for the Department of Defense, law enforcement industry. The company's manufactured items in the military category include military MOLLE, medium and large rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers, FROG, A2CU and more. It offers men and boys suits, over garments, bag, and coats. The company holds over 120,000+ square feet of manufacturing capacity with operations in Florida, Puerto Rico and Tennessee. Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr. D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions were signed by Phil Williams, CEO and chairman. The Debtors listed total assets of $10 million to $50 million and total liabilities of $10 million to $50 million. Bielli & Klauder, LLC serves as lead bankruptcy counsel to the Debtors. The Debtors hired SSG Advisors, LLC and Young America Capital, LLC as investment banker. On July 18, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell & Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo Capital LLC, as investment banker. SHORT BARK: Creditors' Panel Hires Teneo as Financial Advisor ------------------------------------------------------------- The Official Committee of Unsecured Creditors of Short Bark Industries, Inc., et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Teneo Restructuring and Teneo Capital LLC, as investment banker and financial advisor to the Committee. The Committee requires Teneo to: a. review and analyze the Debtors' business, operations, assets, financial condition, business plan, strategy, and operating forecasts; b. evaluate the Debtors' strategic and financial alternatives; c. advise and attend meetings of the Committee as well as meetings with the Debtors or other third parties as appropriate in connection with the matters set forth herein; d. advise and assist the Committee in evaluating the financial aspects of any potential DIP loans or other financing by the Debtors; e. review any valuation of the Debtors or its assets; f. review and analyze any proposed capital structure for the Debtors; g. analyze any proposed financings; h. assist the Committee in developing, evaluating, structuring and negotiate the terms and conditions of a restructuring, plan of reorganization, or sale transaction; i. analyze any merger, divestiture, joint-venture, or investment transaction, including the proposed structure and form thereof; j. analyze any new debt or equity capital, including advice on the nature and terms of new securities; k. assist the Committee or participate in negotiations with the Debtor and other creditor groups; and l. provide the Committee with other appropriate general restructuring advice as the Committee and its counsel deems appropriate. Teneo will be paid at these hourly rates: a) Compensation: During the term of this agreement, Teneo shall be paid a fee of $35,000 per month. b) Success Fee: Provided that the general unsecured creditors are paid in full, Teneo shall be paid a Success Fee of $200,000. c) Expense Reimbursement: Teneo shall be entitled to monthly reimbursement of documented out-of-pocket expenses incurred in connection with the services to be provided in the bankruptcy case. Christopher K. Wu, president of Teneo Restructuring and Teneo Capital LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Teneo can be reached at: Christopher K. Wu TENEO RESTRUCTURING AND TENEO CAPITAL LLC 280 Park Avenue, 4th Floor New York, NY 10022 Tel: (212) 886 1600 Fax: (212) 886 9399 E-mail: Info@TeneoHoldings.com About Short Bark Industries, Inc. Short Bark Industries, Inc. -- http://www.shortbark.com/-- provides military apparels for the Department of Defense, law enforcement industry. The company's manufactured items in the military category include military MOLLE, medium and large rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers, FROG, A2CU and more. It offers men and boys suits, over garments, bag, and coats. The company holds over 120,000+ square feet of manufacturing capacity with operations in Florida, Puerto Rico and Tennessee. Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr. D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions were signed by Phil Williams, CEO and chairman. The Debtors listed total assets of $10 million to $50 million and total liabilities of $10 million to $50 million. Bielli & Klauder, LLC serves as lead bankruptcy counsel to the Debtors. The Debtors hired SSG Advisors, LLC and Young America Capital, LLC as investment banker. On July 18, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell & Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo Capital LLC, as investment banker. SHORT BARK: Hires Bielli & Klauder as Counsel --------------------------------------------- Short Bark Industries, Inc., et al., seek authority from the U.S. Bankruptcy Court for the District of Delaware to employ Bielli & Klauder, LLC, as counsel to the Debtors. Short Bark requires Bielli & Klauder to: a. provide the Debtors legal advice with respect to their powers and duties as debtors in possession in the continued operation of their business and management of their properties; b. assist in taking all necessary action to protect and preserve the Debtors' estates, including the prosecution of actions on the behalf of Debtors, the defense of any actions commenced against the Debtors, the negotiation of disputes in which the Debtors are involved, and the preparation of objections to claims filed against the Debtors' estates; c. prepare or assist in preparing of the Debtors all necessary schedules, statements, applications, answers, orders, reports, motions and notices in connection with the administration of the estates of the Debtors; d. prepare responses to applications, motions, other pleadings, notices, and other papers that may be filed and served in the bankruptcy Cases; e. appear before the Bankruptcy Court and such other courts as may be appropriate to represent the interests of the Debtors in matters that require representation and to represent and assist Debtors in negotiations with other parties in interests in the cases; f. advise the Debtors concerning actions they might take to collect and recovery property for the benefit of their estates; g. advise the Debtors concerning executory contracts and unexpired lease assumptions, assignments, and rejections; h. advise the Debtors in connection with the Debtors' contemplated sale of all or substantially all of their assets under section 363 of the Bankruptcy Code; i. advise the Debtors in formulating and preparing a chapter 11 plan on behalf of the Debtors, the related disclosure statement, and any revisions, amendments relating to such documents, and all related materials, and advising and assist the Debtors in connection with the solicitation and confirmation processes; and j. perform all other necessary legal services for the Debtors which may be necessary in the Bankruptcy Cases. Bielli & Klauder will be paid at these hourly rates: David M. Klauder, Member $350 Thomas Bielli, Member $350 Nella Bloom, Of Counsel $325 Cory P. Stephenson, Associate) $205 Bielli & Klauder was retained by the Debtors on July 5, 2017. At that time, Unequal, Inc., on behalf of the Debtors, paid Bielli & Klauder a $50,000 retainer to secure the payment of professional fees, and case expenses to Bielli & Klauder. Prior to the Petition Date, the firm incurred professional fees and case expenses, including filing fees, for the preparation of the Chapter 11 Cases in the amount of $21,061.50. The firm drew down from the retainer to pay these fees and expenses, leaving a balance of $28,938.50. Bielli & Klauder will also be reimbursed for reasonable out-of-pocket expenses incurred. David M. Klauder, a member of Bielli & Klauder, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Bielli & Klauder can be reached at: David M. Klauder, Esq. BIELLI & KLAUDER, LLC 1204 N. King Street Wilmington, DE 19801 Tel: (302) 803-4600 Fax: (302) 397-2557 E-mail: cstephenson@bk-legal.com About Short Bark Industries, Inc. Short Bark Industries, Inc. -- http://www.shortbark.com/-- provides military apparels for the Department of Defense, law enforcement industry. The company's manufactured items in the military category include military MOLLE, medium and large rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers, FROG, A2CU and more. It offers men and boys suits, over garments, bag, and coats. The company holds over 120,000+ square feet of manufacturing capacity with operations in Florida, Puerto Rico and Tennessee. Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr. D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions were signed by Phil Williams, CEO and chairman. The Debtors listed total assets of $10 million to $50 million and total liabilities of $10 million to $50 million. Bielli & Klauder, LLC serves as lead bankruptcy counsel to the Debtors. The Debtors hired SSG Advisors, LLC and Young America Capital, LLC as investment banker. On July 18, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell & Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo Capital LLC, as investment banker. SKYLINE MANOR: Court Dismisses Suit Against R. Rynard ----------------------------------------------------- Judge Laurie Smith Camp of the U.S. District Court for the District of Nebraska has dismissed the case RON ROSS, Chapter 11 Trustee of Skyline Manor Inc.; Plaintiff, v. ROBERT L. RYNARD JR., Defendant, No. 8:17CV132. (D. Neb.) with prejudice. The Court's ruling comes after the parties filed their Joint Stipulation of Dismissal. Any pending motions are terminated and the Court will not assess costs or attorney's fees. A copy of Judge Camp's Order dated August 9, 2017, is available at https://is.gd/9PxW4E from Leagle.com. Ron Ross, Plaintiff, represented by Brandon R. Tomjack -- btomjack@bairdholm.com -- BAIRD, HOLM LAW FIRM. Ron Ross, Plaintiff, represented by Nicholas A. Buda -- nbuda@bairdholm.com -- BAIRD, HOLM LAW FIRM & T. Randall Wright -- rwright@bairdholm.com -- BAIRD, HOLM LAW FIRM. Official Committee of Unsecured Creditors, Creditor, represented by Francis J. Lawall -- lawallf@pepperlaw.com -- PEPPER, HAMILTON LAW FIRM. Robert L. Rynard, Jr., Defendant, represented by Kathryn J. Derr -- kderr@berkshire-law.com -- BERKSHIRE, BURMEISTER LAW FIRM. Skyline Manor, Inc., Debtor, represented by Patrick R. Turner -- patrick.turner@stinson.com -- STINSON, LEONARD LAW FIRM, Robert V. Ginn, SMITH, SLUSKY LAW FIRM & T. Randall Wright, BAIRD, HOLM LAW FIRM. U.S. Trustee, Trustee, represented by Jerry L. Jensen -- Jerry.L.Jensen@usdoj.gov -- U.S. TRUSTEE & Patricia M. Fahey -- Patricia.Dugan@usdoj.gov -- U.S. TRUSTEE. About Skyline Manor Skyline Manor Inc. is a Nebraska non-profit corporation that operates a 199-unit continuing care retirement community and a 140 unit independent living facility in Omaha. Skyline Manor filed a Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934) on May 8, 2014. The petition was signed by John W. Bartle as chief restructuring officer. Judge Thomas L. Saladino presides over the case. The Debtor disclosed $19.9 million in assets and $13.7 million in liabilities as of the Chapter 11 filing. Mr. Ross has been appointed as the Chapter 11 trustee for Skyline Manor. SPECTRUM ALLIANCE: Committee Taps Duane Morris as Legal Counsel --------------------------------------------------------------- The official committee of unsecured creditors of Spectrum Alliance, LP seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to hire legal counsel. The committee proposes to employ Duane Morris LLP to, among other things, give legal advice regarding its duties under the Bankruptcy Code; assist in its consultations with the Debtor; and assist in negotiations concerning matters related to asset dispositions, financing and the terms of any plan of reorganization. The hourly rates charged by the firm range from $455 to 1,105 for partners and of counsel, $230 to $695 for associates, $185 to $435 for paralegals, and $175 to $295 for legal assistants. Duane Morris received a pre-bankruptcy retainer of $20,000 from the Debtor for the purpose of providing counsel to an ad hoc committee of unsecured creditors that had formed. Rudolph Di Massa, Jr., Esq., disclosed in a court filing that his firm does not have any interest adverse to the Debtor's estate, creditors or equity security holders. The firm can be reached through: Rudolph Di Massa, Jr., Esq. Duane Morris LLP 1540 Broadway New York, NY 10036-4086 Phone: +1 215 979 1506 Fax: +1 215 689 2138 Email: DiMassa@duanemorris.com About Spectrum Alliance LP Based in North Wales, Pennsylvania, Spectrum Alliance LP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 17-14250) on June 20, 2017. James R. Wrigley, president, signed the petition. At the time of the filing, the Debtor estimated its assets and debts at $50 million to $100 million. Judge Jean K. FitzSimon presides over the case. Jennifer E. Cranston, Esq., at Ciardi Ciardi & Astin, P.C., represents the Debtor as bankruptcy counsel. The Debtor tapped Migelouche LLC, as financial advisor. On July 7, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. On August 4, 2017, the Debtor filed a disclosure statement, which explains its proposed Chapter 11 plan of reorganization. STAND 2: Taps Carmody MacDonald as Legal Counsel ------------------------------------------------ Stand 2, LLC received approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to hire Carmody MacDonald PC as its legal counsel. The firm will, among other things, advise the Debtor regarding its duties under the Bankruptcy Code; analyze claims of creditors; give advice in connection with the sale of its assets or business; and assist in negotiations related to the formulation of a plan of reorganization. The hourly rates charged by the firm range from $160 per hour to $380 per hour. Carmody has been paid the sum of $10,700 for services provided prior to the petition date in preparation for the filing. The firm has no retainer balance. Spencer Desai, Esq., disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Spencer P. Desai, Esq. Danielle Suberi, Esq. Carmody MacDonald PC 120 South Central Avenue, Suite 1800 St. Louis, MO 63105 Phone: (314) 854-8600 Email: spd@carmodymacdonald.com Email: dps@carmodymacdonald.com About Stand 2, LLC Stand 2, LLC, a small business debtor as defined in 11 U.S.C. Sec. 101(51D), owns patents, copyrights, trademarks, and trade secrets Patents and Trademarks used by its affiliate Standfast USA, LLC, which patents are valued at $750,000. Standfast USA sought bankruptcy protection (Bankr. E.D. Mo. Case No. 16-46691) on Sept. 16, 2016. Stand 2, LLC, sought Chapter 11 protection (Bankr. E.D. Mo. Case No. 17-45233) on July 31, 2017, disclosing total assets at $750,590 and total liabilities at $2,200,000. The petition was signed by Robert O'Brien, managing member. Judge Kathy A. Surratt-States is assigned to the case. STARR PASS: Latest Plan Adds Estimated Amount Owed to Unsecureds ---------------------------------------------------------------- Starr Pass Residential, LLC, filed with the U.S. Bankruptcy Court for the District of Arizona a fourth amended disclosure statement dated, Aug. 11, 2017, describing its second amended plan of reorganization dated Oct. 17, 2016. This latest plan asserts that the sale of Debtor's awarded portion of Block B will presumably satisfy all administrative claims currently totaling $166,358, which is comprised of an award of attorneys' fees and costs owed to Gust Rosenfeld, P.L.C., former counsel for Debtor, in the amount of $86,545 ($111,545 minus its $25,000 retainer), plus an award of attorneys' fees and costs owed to DeConcini McDonald Yetwin & Lacy, P.C., current counsel for Debtor, in the amount of $79,812, not including an award on a final fee application, and a large portion, if not all, of Allowed Unsecured Claims. The new plan also adds that the estimated amount owed to Class V unsecured claimants who are not considered insiders is $413,357. The Troubled Company Reporter reported on June 2, 2017, that the Debtor's operations have been at a standstill as a result of the State Court Action. However, once determinative issues are resolved through litigation or reached by a consensual resolution, Debtor anticipates developing or selling its parcels of land, which will put Debtor in a financial position to continue active operations. A copy of the Fourth Amended Disclosure Statement is available at: http://bankrupt.com/misc/azb4-14-09117-315.pdf About Starr Pass Residential Starr Pass Residential LLC is a Delaware real estate development company formed in 2002, to develop residentially zoned and platted property in Starr Pass, a Master Planned Resort and Residential Community in Tucson, Arizona. Starr Pass filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz. Case No. 14-09117) on June 12, 2014. Christopher Ansley, as authorized officer, signed the petition. The Debtor disclosed total assets of $7.40 million and liabilities of $146 million. Gust Rosenfeld, P.L.C., serves as the Debtor's counsel. The bankruptcy case was reassigned to Judge Eileen W. Hollowell because Judge Brenda Moody Whinery recused herself from hearing any matter on the Chapter 11 proceeding. The U.S. Trustee for Region 14 was unable to form an official committee of unsecured creditors. STEMTECH INT'L: Wants Exclusive Plan Filing Extended to Oct. 16 --------------------------------------------------------------- Stemtech International, Inc., asks the U.S. Bankruptcy Court for the Southern District of Florida to extend the exclusive periods within which only it may file and solicit acceptances of a plan through and including Oct. 16, 2017, and Dec. 15, 2017, respectively. As reported by the Troubled Company Reporter on July 6, 2017, the Court extended the exclusive periods for the Debtor to file and solicit acceptances of a plan through and including Aug. 16, 2017, and Oct. 16, 2017, respectively. The Debtor says that although this case is not particularly large, the case is somewhat complex. The Debtor is a holding company with assets comprising intellectual property, a leasehold interest, and direct and indirect equity interests in several subsidiaries operating both domestically and internationally. Throughout this case, the Debtor and its representatives have endeavored to fully cooperate with representatives of the Official Committee of Unsecured Creditors and Opus Bank. The Debtor and its representatives originally participated in weekly calls with Opus Bank and have responded to a vast array of information requests from the Committee as well as numerous follow-up requests for information and other questions. As a result of the parties' efforts, there has been no formal discovery conducted in this case. Thus, the parties have avoided time consuming and costly discovery. Additionally, the Debtor and its representatives have met with counsel for the Committee in an effort to respond to any additional questions raised by the Committee. On July 12, 2017, just a little over five months into the case, the Debtor provided Committee counsel with plan projections and estimated claims and distributions. While the Debtor has consented to certain information being provided to the entire Committee, the Debtor has conditioned the provision of other information to only certain members of the Committee in advance of filing a plan and disclosure statement. The Debtor and its representatives have engaged in cost cutting measures in an effort to improve profitability. These cost cutting efforts have included, but have not been limited to, closing approximately 13 unprofitable subsidiaries, headcount reductions and completing negotiations with the Debtor's landlord in order to modify the Debtor's leasehold interest. These efforts and others have resulted in material cost reductions of approximately $100,000 per month. The Debtor tells the Court that the initial six months of this case have been marked with progress, including cooperative efforts with the Committee in providing responses to voluminous information requests without the need for costly and other time consuming formal discovery. Likewise, the Debtor and its representatives met with the Debtor's landlord and its representatives and completed negotiations pertaining to a modification to the Debtor's lease of corporate headquarters, which has resulted in material benefit to the Debtor and the estate. In July 2017, five and one-half months into the case, the Debtor provided plan projections and estimated claims and distributions to counsel for the Committee and certain members of the Committee. The Debtor says it has enjoyed the use of cash collateral throughout the case on an uncontested basis. The Debtor anticipates that Opus Bank will continue to cooperate and consent to ongoing use of cash collateral. About Stemtech International Stemtech International, Inc., filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 17-11380) on Feb. 2, 2017, estimating $1 million to $10 million in assets and liabilities. The petition was signed by Ray C. Carter, chief executive officer. The Hon. Raymond B. Ray presides over the case. The Debtor tapped SEESE, PA, as counsel; and GlassRatner Advisory & Capital Group, LLC, as its financial advisor. Guy Gebhardt, acting U.S. Trustee for Region 21, on Feb. 22, 2017, appointed three creditors of Stemtech International, Inc., to serve on the official committee of unsecured creditors. The committee members are (1) Wilhelm Keller; (2) Greg Newman; and (3) Andrew P. Leonard. The Committee retained Paul Steven Singerman, Esq., at Berger Singerman LLP as counsel. STERLING ENTERTAINMENT: Taps Kaempfer Crowell as Attorneys ---------------------------------------------------------- Sterling Entertainment Group LV, LLC seeks authority from the US Bankruptcy Court for the District Of Nevada to employ Kaempfer Crowell as its attorneys. The Debtor needs Kaempfer Crowell to: a. render legal advice with respect to the powers and duties of the Debtor that continue to operate its business and manage its business as debtor in possession; b. negotiate, prepare and file a plan or plans of reorganization and disclosure statements in connection with such plans, and otherwise promote the financial rehabilitation of the Debtor; c. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, negotiations concerning all litigation in which the Debtor is or will become involved, and the evaluation and objection to claims filed against the estate; d. prepare, on behalf of the Debtor, all necessary applications, motions, answers, orders, reports and papers in connection with the administration of the Debtor's estate, and appear on behalf of the Debtor at all Court hearings in connection with the Debtor’s case; e. render legal advice and perform general legal services in connection with the foregoing; f. assist in all ongoing post-confirmation issues in this bankruptcy proceeding; and g. perform all other necessary legal services in connection with this chapter 11 case. Prior to the Debtor's Petition Date, the Salahadin Trust transferred to Kaempfer Crowell a $50,000 retainer for general legal services relating to four litigation matters involving the Debtor. Of this sum, Kaempfer Crowell earned $33,985.29 for its services in those matters. As of the Petition Date, Kaempfer Crowell held the remaining $16,014.71 as a retainer for its bankruptcy services. Kaempfer Crowell's attorneys and paraprofessionals will be paid at these rates: Bryan Viellion, Esq. $255.00 per hour Louis M. Bubala, Esq. $400.00 per hour Other Firm Attorney(s) $255.00-$550.00 per hour Merrilyn Marsh, ACP, Paralegal $190.00 per hour Other paraprofessional services $140.00-$165.00 per hour Bryan M Viellion, Esq., attests that Kaempfer Crowell is a "disinterested person" pursuant to sections 327(a) and 101(14) of the Bankruptcy Code. The Firm can be reached through: Bryan M Viellion, Esq. KAEMPFER CROWELL 1980 Festival Plaza DR, Ste 650 Las Vegas, NV 89135-2958 Tel: (702) 792-7000 Fax: (702) 796-7181 Email: bviellion@kcnvlaw.com About Sterling Entertainment Group Based in Los Angeles, California, Sterling Entertainment Group filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 17-13662) on July 6, 2017. The petition was signed by Amadouba Tall, trustee of Salahadin Family Trust. The Hon. August B. Landis presides over the case. Bryan M Viellion, Esq. at Kaempfer Crowell, represents the Debtor. At the time of filing, the Debtor estimated $10 million to $50 million in both assets and liabilities. STINAR HG: Wants to Continue Using Cash Collateral Through Dec. 31 ------------------------------------------------------------------ Stinar HG, Inc., asks for permission from the U.S. Bankruptcy Court for the District of Minnesota to use cash collateral of up to $1,511,471 through the 22-week period ending the Dec. 31, 2017. As reported by the Troubled Company Reporter on Aug. 8, 2017, the Court entered an order approving the Debtor's stipulation with Ford Motor Credit Corporation for adequate protection and use of cash collateral. According to the TCR, Ford Motor Credit and the Debtor entered into a stipulation entered into a Master Loan and Security Agreement dated Aug. 5, 2015, and a related Supplement to Agreement dated Feb. 23, 2017, pursuant to which the Debtor acquired certain motor vehicles and related goods on credit from FMCC, and granted FMCC a first priority security interest in the motor vehicles, related goods, and accounts, general intangibles and proceeds therefrom. The maturity date of the Agreement is Sept. 1, 2017. The Debtor has the right under the stipulation and order to use cash collateral until Aug. 18, 2017. The Debtor has one secured creditor with an interest in cash: Signature Bank that has two loans totaling a current balance of approximately $1,132,482. The Secured Creditor has an outstanding balance due in the approximate amount of $1,132,482. The Secured Creditor has a purported lien in cash collateral. The Secured Creditor is oversecured as to cash collateral as of the Petition Date. The Debtor proposes that it be permitted to offer to continue granting the Secured Creditor a replacement lien or a security interest in any new assets, materials and accounts receivable, generated from the use of cash collateral, with the same priority, dignity, and validity of prepetition liens or security interest as adequate protection. The Debtor further proposes that it be permitted as adequate protection to continue paying the Secured Creditor $8,000 per month which is a sum approximately equal to the interest accruing on the Security Bank loans. This is the sum that was approved previously by the Court. As additional adequate protection, the Debtor proposes (1) to maintain insurance on all of the property in which the Secured Creditor claims a security interest; (2) to pay all post-petition federal and state taxes, including timely deposit of payroll taxes; (3) provide the Secured Creditor access during normal business hours for inspection of their collateral and Debtor's business records; and (4) all cash proceeds and income of Debtor will be deposited into a newly opened cash collateral account as required by law and Local Rule. The Debtor is starting to hit its stride under the protection of the automatic stay. Current active orders are $2.30 million which is up considerably since the start of the case. The infusion of the DIP loan has allowed the Debtor to jump start production with the purchase of inventory and parts to increase its sales. The Debtor will be profitable overall in the requested cash collateral period (ending Dec. 31, 2017) and will generate net cash of $841,843 in that time if it is allowed to use the $1,511,471 in cash collateral estimated through that time. The Debtor has an ongoing need to use its cash collateral to pay the expenses incurred in the daily operations of its business. The expenses are itemized in further detail on the projection, but include for example, payroll, payroll taxes, payments to suppliers for post-petition purchases, utilities, rent, and any other vendor providing postpetition goods and services to the Debtor. The Debtor must have access to cash collateral. The Debtor warns that if it fails to make the payments contemplated by the projection, it will for example, lose its employees and will be unable to hire new employees. Consequently, the Debtor's operations would cease and the estate and the interests of the creditors would be irreparably harmed. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/mnb17-31670-46.pdf About Stinar HG & Oakrdige Stinar HG, Inc., d/b/a The Stinar Corporation, is a Minnesota-based company that manufactures ground support equipment for the aviation industry. The late Frank Stinar founded Stinar Corp. in 1946. Stinar's products are used to load, service, and maintain all types of aircraft for both government and commercial applications. The company's corporate headquarters and its 40,000 square foot manufacturing facility are in Eagan, Minnesota. On June 29, 1998, Oakridge Holdings, Inc. (OTCMKTS:OKRGQ), a publicly held Minnesota-based company, became the new owner of Stinar. Currently, Stinar is the only asset of Oakridge Holdings. The largest shareholders of Oakridge Holdings is Robert Harvey who holds approximately 21% of the outstanding shares. Oakridge Holdings and operating unit Stinar HG filed bankruptcy Chapter 11 petitions (Bankr. D. Minn. Case Nos. 17-31669 and 17-31670, respectively) on May 22, 2017. Robert C. Harvey, CEO & president, signed the petitions. At the time of filing, debtor Oakridge Holdings disclosed total assets of $990,237 and total liabilities of $2.17 million, while debtor Stinar HG disclosed total assets of $8.22 million and total liabilities of $2.91 million. The cases are assigned to Judge Kathleen H Sanberg. The Debtors are represented by Kenneth Edstrom, Esq., at Sapientia Law Group. T&L MOBILE: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- An official committee of unsecured creditors has not yet been appointed in the Chapter 11 case of T&L Mobile Television, Inc., as of August 16, according to a court docket. About T&L Mobile Television Inc. Based in Nixa, Missouri, T&L Mobile Television Inc. provides live and video-tape mobile production services for sporting events, the entertainment industry, corporate engagements, political campaigns and religious gatherings. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 17-60629) on June 6, 2017. Troy Fain, president, signed the petition. At the time of the filing, the Debtor estimated assets of less than $1 million and liabilities of $1 million to $10 million. Judge Arthur B. Federman presides over the case. David Schroeder Law Office, P.C. represents the Debtor as bankruptcy counsel. TAMARA REEDER: Eichman Wants Trustee to Organize Sale ----------------------------------------------------- Secured Creditor Ronald D. Eichman asks the U.S. Bankruptcy Court for the Northern District of California to convert the Chapter 11 case of Tamara Taylor Reeder to a Chapter 7 and to appoint a Court Trustee to organize the sale of the property at 5632 Weaver Place, Oaklang, CA. Further, to protect his interests, Mr. Eichman asks the Court to disallow or deny any real estate companies that the Debtor, Mharla Taylor Reeder, Sylvester Ortega, Jr. (Mharla's husband), or the Reeder Trust any further involvement in the Debtor's Chapter 11 case, particularly with the sale of the property. Mr. Eichman believes that he will not be given a fair share in this matter if the Debtor or her companies, affiliates, friends or relatives are involved in the sale or repurchase of the property. Mr. Eichman believes that the Debtor has been fraudulent in her financial dealings, and as such, asks that the Court appoint a Court Trustee to inspect the Debtor as well as the Reeder Trust financial records and dealings that pertain to this case for fraud and all the other debtors business for fraud. Mr. Eichman alleges that the Debtor, Reeder Trust, and the Ortegas currently owe multiple and extensive long term unpaid liens and bills to contractors against them. He further alleges that Mr. Ortega, Contractor's License #875272, has been suspended since March 2006 and has been suspended all years up to the current date. Additionally, the Debtors also owe the Bankruptcy Court unpaid Court Attorney Bills, Court Fees as stated to the Debtor at the Status hearing on July 6, 2017. About Tamara Reeder Tamara Taylor Reeder filed a Chapter 11 bankruptcy petition (Bankr. N.D. Cal. Case No. 16-40949) on April 11, 2016. The Debtor is represented by Robert L. Goldstein, Esq., at the Law Offices of Robert L. Goldstein. TARA RETAIL: Insider Unsecured Claims to Get No Distributions ------------------------------------------------------------- Tara Retail Group, LLC, filed with the U.S. Bankruptcy Court for the Northern District of West Virginia a disclosure statement dated Aug. 7, 2017, referring to the Debtor's first amended plan of reorganization. Holders of Class 5 Insider Unsecured Claims will retain their claims, but will receive no distributions over the Plan period. This class is impaired by the Plan. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/wvnb17-00057-358.pdf As reported by the Troubled Company Reporter on June 29, 2017, the Debtor filed with the Court a disclosure statement to accompany its plan of reorganization, which proposed to pay Class 4 general unsecured claimants in full, in monthly deferred cash payments without interest, starting on the later of the (i) Effective Date (or as soon as practicable thereafter), or (ii) on the 15th day of the month following the date the General Unsecured Claim becomes an Allowed General Unsecured Claim, and continuing on the 15th day of each month thereafter, ending no later than five years after the first payment would be made made. About Tara Retail Tara Retail Group, LLC, owns The Crossings Mall in Elkview, West Virginia, which had tenants that included Kmart and Kroger. The Company is headed by businessman Bill Abruzzino. The Crossings Mall has been closed and inaccessible to the public since massive floods swept through West Virginia on June 23, 2016. On Dec. 23, 2016, U.S. District Judge Thomas Johnston appointed Martin Perry, a managing director at Newmark Grubb Knight Frank's Pittsburgh office, as receiver. To stop a foreclosure sale of its shopping center, Tara Retail Group, LLC, filed a Chapter 11 petition (Bankr. N.D. W.Va. Case No. 17-00057) on Jan. 24, 2017. The petition was signed by William A. Abruzzino, managing member. The case judge is the Hon. Patrick M. Flatley. The Debtor estimated assets and debt of $10 million to $50 million. The Debtor tapped Steven L. Thomas, Esq., at Kay, Casto & Chaney PLLC as bankruptcy counsel. TARTAN PINES: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------ The Office of the U.S. Trustee on Aug. 17 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Tartan Pines Development Co., Inc. About Tartan Pines Tartan Pines Development Co., Inc., is a real estate developer which was incorporated in 1998 and is based in Enterprise, Alabama. It is a small business debtor as defined in 11 U.S.C. Section 101(51D). The Debtor filed for Chapter 11 bankruptcy protection (Bankr. M.D. Ala. Case No. 17-11565) on Aug. 15, 2017, estimating its assets at between $1 million and $10 million and liabilities at between $500,000 and $1 million. The petition was signed by Robert Bishop, director. Judge William R. Sawyer presides over the case. Kaz J. Espy, Esq., at Espy, Metcalf & Espy, P.C., serves as the Debtor's bankruptcy counsel. TD MANUFACTURING: Hiring Dickensheet to Sell Unnecessary Equipment ------------------------------------------------------------------ TD Manufacturing, LLC, asks the U.S. Bankruptcy Court for the District of Colorado to authorize it to (i) retain and compensate Dickensheet & Associates, Inc. as Auctioneer and (ii) sell by auction its unnecessary equipment. The Debtor has numerous pieces of equipment and machinery that it is not utilizing ("Unnecessary Equipment"). It wishes to liquidate the Unnecessary Equipment by way of auction. A copy of the list of the Unnecessary Equipment to be sold and the Auctioneer Affidavit attached to the Motion is available for free at: http://bankrupt.com/misc/TD_Manufacturing_67_Sales.pdf The Unnecessary Equipment is encumbered by the secured claims (i) Colorado Lending Source and (ii) TBK Bank. The Debtor desires to hire Dickensheet to handle all liquidation matters pertaining to the Unnecessary Equipment, including conducting an auction. Dickensheet has substantial experience in providing services of this nature. Dickensheet is to be compensated as follows: 15% commission on gross sales of the Unnecessary Equipment plus expenses associated therewith including costs of sale to secure, market and sell the Unnecessary Equipment. The Debtor asks authority to reimburse the expenses of Dickensheet and compensate Dickensheet for its 15% commission without further motion, notice to parties in interest or action of the Court, Dickensheet to be paid from the proceeds from the sale of the Umiecessary Equipment. The appointment of Dickensheet is in the best interest of the estate as a professional is required to provide the liquidation services Dickensheet is to provide. The sale of the Unnecessary Equipment will reduce the secured claims and reduce the cost and expense associated with the Unnecessary Equipment, including insurance. The use of an auctioneer will assure the Unnecessary Equipment is promptly liquidated and is exposed to the market place to assure the highest and best offer is received. Upon appointment by the Court, Dickensheet will how to best market and auction the Unnecessary Equipment. It will schedule and market and conduct an auction in due course. The Unnecessary Equipment will be auctioned at the Debtor's principal place of business, at the location of the Assets, or conducted by way of online auction. Dickensheet will conduct the auction as soon as is practicable. The auction to be conducted by Dickensheet is designed to attract as many potential bidders as possible. There will be an opportunity for potentially bidders to view and inspect the Unnecessary Equipment prior to the auction. The Debtor believes that it is impractical if not impossible to obtain an absolute date certain for the auction at this time, because Dickensheet schedules its auctions with some flexibility, and it is uncertain if or when the Court will approve the Motion. Therefore, the Debtor believes it is proper and in the best interest of the estate that parties in interest be advised to confirm with Dickensheet the exact time for the auction of the Assets. The Debtor proposes to sell the Unnecessary Equipment free and clear of liens, claims and encumbrances and other interests. It believes it can obtain the consent of any valid lien holders. The sale proceeds will be used to satisfy all sale and closing cost and then liens, claims and encumbrances upon the Unnecessary Equipment in the order of their priority to the extent proceeds exist. The Auctioneer: DICKENSHEET & ASSOCIATES, INC. 1501 W. Wesley Denver, CO 80223 Telephone: (303) 934-8322 Facsimile: (303) 934-8252 Web site: http://www.dickensheet.com/ About TD Manufacturing LLC Based in Greeley, Colorado, TD Manufacturing LLC -- http://www.t-dmanufacturing.com/-- operates a metal manufacturing and powder coating shop that specializes in plasma table cutting, welding, sand blasting, and powder coating. TD Manufacturing sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 17-14243) on May 9, 2017. The petition was signed by Luke Yockim, manager. At the time of the filing, the Debtor disclosed $286,671 in assets and $1.40 million in liabilities. The case is assigned to Judge Michael E. Romero. Aaron A. Garber, Esq., at Buechler & Garber, LLC, serves as the Debtor's bankruptcy counsel. TEXAS PELLETS: Hires Navigant Consulting as Insurance Consultant ---------------------------------------------------------------- Texas Pellets, Inc., et al., seek authority from the U.S. Bankruptcy Court for the Eastern District of Texas to employ Navigant Consulting, Inc., as insurance consultant to the Debtors. Texas Pellets requires Navigant Consulting to consult and advise on the Debtors' insurance claims, including without limitation creation of business interruption and property damage models, collection and organization of supporting documentation, review of calculations prepared by representatives of the insurance carrier and preparation of rebuttal analyses, all for the purpose of assisting with the preparation of support for insurance claims. Navigant Consulting will be paid at these hourly rates: Managing Directors $450 Consultants $150 Navigant Consulting will also be reimbursed for reasonable out-of-pocket expenses incurred. Mark S. O'Rear, managing director of Navigant Consulting, Inc., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Navigant Consulting can be reached at: Mark S. O'Rear NAVIGANT CONSULTING, INC. 2 Houston Center, 909 Fannin St., Suite 2450 Houston, TX 77010. Tel: (713) 646-5000 Fax: (713) 646-5001 About Texas Pellets, Inc. Texas Pellets, Inc., based in Woodville, Texas, filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90126) on April 30, 2016. The petition was signed by Anna Katherin Leibold, president and chief executive officer. German Pellets Texas, LLC, also based in Woodville, Texas, filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90127) on April 30, 2016. The petition was signed by Peter H. Leibold, its chief executive officer. The cases have been jointly administered under Texas Pellets' case. Judge Bill Parker presides over the cases. The Debtors employed William Steven Bryant, Esq., at Locke Lord LLP as their legal counsel; Searcy & Searcy, P.C. as local/conflicts co-counsel; and Guggenheim Securities, LLC as investment banker. Bryan M. Gaston, and the firm Opportune, LLP, serve as the Debtors' Chief Restructuring Officer. An official committee of unsecured creditors was appointed on May 17, 2016. No trustee or examiner has been appointed. Counsel for the Committee is: Patrick Kelley, Esq. Ireland, Carroll & Kelly, P.C. 6101 S. Broadway, Suite 500 Tyler, TX 75703 Tel: (903) 561-1600 TK HOLDINGS: Tort Panel Taps Gilbert LLP as Insurance Counsel ------------------------------------------------------------- The committee representing TK Holdings Inc.'s tort claimants seeks approval from the U.S. Bankruptcy Court in Delaware to hire Gilbert LLP. The firm will, among other things, advise the committee in its evaluation of the insurance policies of TK Holdings and its affiliates; consult with the Debtors and insurers regarding those policies; and advise the committee on insurance-related matters in connection with the formulation of a plan of reorganization. The hourly rates charged by the firm range from $650 to $1,200 for partners, $295 to $575 for associates, and $180 to $275 for paraprofessionals. The hourly rate for of counsel is $595. Gilbert is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, the firm disclosed that it has not agreed to any variations from, or alternatives to, its standard or customary billing arrangements for its employment with the committee, and that no Gilbert professional has varied his rate based on the geographic location of the Debtors' cases. The firm also disclosed that the committee has already approved its staffing and prospective budget. The hearing to consider approval of the committee's request is scheduled for August 30. Gilbert can be reached through: Kami E. Quinn, Esq. Gilbert LLP 1100 New York Avenue, NW, Suite 700 Washington, D.C. 20005 Phone: 202-772-2200 Fax: 202-772-3333 Email: info@gotofirm.com About Takata Corp Japan-based Takata Corporation (TYO:7312) -- http://www.takata.com/en/-- develops, manufactures and sells safety products for automobiles. The Company offers seatbelts, airbags, steering wheels, child seats and trim parts. Headquartered in Tokyo, Japan, Takata operates 56 plants in 20 countries with approximately 46,000 global employees worldwide. The Company has subsidiaries located in Japan, the United States, Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea, China and other countries. Takata Corp. filed for bankruptcy protection in Tokyo and the U.S., amid recall costs and lawsuits over its defective airbags. Takata and its Japanese subsidiaries commenced proceedings under the Civil Rehabilitation Act in Japan in the Tokyo District Court on June 25, 2017. Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S. and Mexican affiliates each filed voluntary petitions under Chapter11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-11375) on June 25, 2017. Together with the bankruptcy filings, Takata announced it has reached a deal to sell all its global assets and operations to Key Safety Systems (KSS) for US$1.588 billion. Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese proceedings. Weil, Gotshal & Manges LLP and Richards, Layton & Finger, P.A., are serving as counsel in the U.S. cases. PricewaterhouseCoopers is serving as financial advisor, and Lazard is serving as investment banker to Takata. Ernst & Young LLP is tax advisor. Prime Clerk is the claims and noticing agent. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, KPMG is serving as financial advisor, Jefferies LLC is acting as lead financial advisor. UBS Investment Bank also provides financial advice to KSS. On June 28, 2017, TK Holdings, as the foreign representative of the Chapter 11 Debtors, obtained an order of the Ontario Superior Court of Justice (Commercial List) granting, among other things, a stay of proceedings against the Chapter 11 Debtors pursuant to Part IV of the Companies' Creditors Arrangement Act. The Canadian Court appointed FTI Consulting Canada Inc. as information officer. TK Holdings, as the foreign representative, is represented by McCarthy Tetrault LLP. The U.S. Trustee has appointed an Official Committee of Unsecured Trade Creditors and a separate Official Committee of Tort Claimants. The Official Committee of Unsecured Creditors has selected Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F. Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington, Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Washington, D.C., as its bankruptcy counsel. Chapter 15 Cases Takata Corporation ("TKJP") and affiliates Takata Kyushu Corporation and Takata Services Corporation commenced Chapter 15 cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9, 2017, to seek U.S. recognition of the civil rehabilitation proceedings in Japan. The Hon. Brendan Linehan Shannon oversees the Chapter 15 cases. Young, Conaway, Stargatt & Taylor, LLP, serves as Takata's counsel in the Chapter 15 cases. TK HOLDINGS: Tort Panel Taps Pachulski Stang as Legal Counsel ------------------------------------------------------------- The committee representing TK Holdings Inc.'s tort claimants seeks approval from the U.S. Bankruptcy Court in Delaware to hire Pachulski Stang Ziehl & Jones LLP as its legal counsel. The firm will, among other things, represent the committee in its consultations with TK Holdings and its affiliates; give advice on any potential sale of their assets; and assist in the preparation of a bankruptcy plan. The hourly rates charged by the firm range from $625 to $1,245 for partners, $575 to $995 for of counsel, $450 to $595 for associates, and $275 to $350 for paraprofessionals. Laura Davis Jones, Esq., disclosed in a court filing that her firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Ms. Jones disclosed that her firm has not agreed to any variations from, or alternatives to, its standard or customary billing arrangements for its employment with the committee. Ms. Jones also disclosed that no Pachulski professional has varied his rate based on the geographic location of the Debtors' cases, and that the committee has already approved the firm's staffing and prospective budget. The hearing to consider approval of the committee's request is scheduled for August 30. Pachulski can be reached through: Laura Davis Jones, Esq. James I. Stang, Esq. Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899 Tel: 302-652-4100 Fax: 302-652-4400 Email: ljones@pszjlaw.com Email: jstang@pszjlaw.com About Takata Corp Japan-based Takata Corporation (TYO:7312) -- http://www.takata.com/en/-- develops, manufactures and sells safety products for automobiles. The Company offers seatbelts, airbags, steering wheels, child seats and trim parts. Headquartered in Tokyo, Japan, Takata operates 56 plants in 20 countries with approximately 46,000 global employees worldwide. The Company has subsidiaries located in Japan, the United States, Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea, China and other countries. Takata Corp. filed for bankruptcy protection in Tokyo and the U.S., amid recall costs and lawsuits over its defective airbags. Takata and its Japanese subsidiaries commenced proceedings under the Civil Rehabilitation Act in Japan in the Tokyo District Court on June 25, 2017. Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S. and Mexican affiliates each filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-11375) on June 25, 2017. Together with the bankruptcy filings, Takata announced it has reached a deal to sell all its global assets and operations to Key Safety Systems (KSS) for US$1.588 billion. Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese proceedings. Weil, Gotshal & Manges LLP and Richards, Layton & Finger, P.A., are serving as counsel in the U.S. cases. PricewaterhouseCoopers is serving as financial advisor, and Lazard is serving as investment banker to Takata. Ernst & Young LLP is tax advisor. Prime Clerk is the claims and noticing agent. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, KPMG is serving as financial advisor, Jefferies LLC is acting as lead financial advisor. UBS Investment Bank also provides financial advice to KSS. On June 28, 2017, TK Holdings, as the foreign representative of the Chapter 11 Debtors, obtained an order of the Ontario Superior Court of Justice (Commercial List) granting, among other things, a stay of proceedings against the Chapter 11 Debtors pursuant to Part IV of the Companies' Creditors Arrangement Act. The Canadian Court appointed FTI Consulting Canada Inc. as information officer. TK Holdings, as the foreign representative, is represented by McCarthy Tetrault LLP. The U.S. Trustee has appointed an Official Committee of Unsecured Trade Creditors and a separate Official Committee of Tort Claimants. The Official Committee of Unsecured Creditors has selected Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F. Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington, Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Washington, D.C., as its bankruptcy counsel. Chapter 15 Cases Takata Corporation ("TKJP") and affiliates Takata Kyushu Corporation and Takata Services Corporation commenced Chapter 15 cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9, 2017, to seek U.S. recognition of the civil rehabilitation proceedings in Japan. The Hon. Brendan Linehan Shannon oversees the Chapter 15 cases. Young, Conaway, Stargatt & Taylor, LLP, serves as Takata's counsel in the Chapter 15 cases. TK HOLDINGS: Tort Panel Taps Sakura Kyodo as Special Counsel ------------------------------------------------------------ The committee representing TK Holdings Inc.'s tort claimants seeks approval from the U.S. Bankruptcy Court in Delaware to hire Sakura Kyodo Law Offices as its special counsel. The firm will provide legal services to the committee related to the civil rehabilitation proceedings commenced by Takata Corp. and its two Japan-based units under the Civil Rehabilitation Act of Japan. These services include assisting the committee in the negotiation and formulation of any rehabilitation plan filed by Takata. The hourly rates charged by Sakura Kyodo professionals designated to represent the committee are: Koji Takeuchi $600 Junichi Aratake $500 Naoki Ueda $400 Kentaro Kobayashi $300 Koji Takeuchi disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Sakura Kyodo disclosed that it has not agreed to any variations from, or alternatives to, standard or customary billing arrangements for its employment with the committee, and that no Sakura Kyodo professional has varied his rate based on the geographic location of the case. The firm also disclosed that the committee has already approved its staffing and prospective budget. The hearing to consider approval of the committee's request is scheduled for August 30. Sakura Kyodo can be reached through: Koji Takeuchi, Esq. Sakura Kyodo Law Offices NBF Hibiya Bldg. 16F 1-1-7 Uchisaiwaicho Chiyoda-ku, Tokyo 100-0011 Tel: 03 (5511) 4400 Fax: 03 (5511) 4411 About Takata Corp Japan-based Takata Corporation (TYO:7312) -- http://www.takata.com/en/-- develops, manufactures and sells safety products for automobiles. The Company offers seatbelts, airbags, steering wheels, child seats and trim parts. Headquartered in Tokyo, Japan, Takata operates 56 plants in 20 countries with approximately 46,000 global employees worldwide. The Company has subsidiaries located in Japan, the United States, Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea, China and other countries. Takata Corp. filed for bankruptcy protection in Tokyo and the U.S., amid recall costs and lawsuits over its defective airbags. Takata and its Japanese subsidiaries commenced proceedings under the Civil Rehabilitation Act in Japan in the Tokyo District Court on June 25, 2017. Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S. and Mexican affiliates each filed voluntary petitions under Chapter11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-11375) on June 25, 2017. Together with the bankruptcy filings, Takata announced it has reached a deal to sell all its global assets and operations to Key Safety Systems (KSS) for US$1.588 billion. Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese proceedings. Weil, Gotshal & Manges LLP and Richards, Layton & Finger, P.A., are serving as counsel in the U.S. cases. PricewaterhouseCoopers is serving as financial advisor, and Lazard is serving as investment banker to Takata. Ernst & Young LLP is tax advisor. Prime Clerk is the claims and noticing agent. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, KPMG is serving as financial advisor, Jefferies LLC is acting as lead financial advisor. UBS Investment Bank also provides financial advice to KSS. On June 28, 2017, TK Holdings, as the foreign representative of the Chapter 11 Debtors, obtained an order of the Ontario Superior Court of Justice (Commercial List) granting, among other things, a stay of proceedings against the Chapter 11 Debtors pursuant to Part IV of the Companies' Creditors Arrangement Act. The Canadian Court appointed FTI Consulting Canada Inc. as information officer. TK Holdings, as the foreign representative, is represented by McCarthy Tetrault LLP. The U.S. Trustee has appointed an Official Committee of Unsecured Trade Creditors and a separate Official Committee of Tort Claimants. The Official Committee of Unsecured Creditors has selected Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F. Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington, Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Washington, D.C., as its bankruptcy counsel. Chapter 15 Cases Takata Corporation ("TKJP") and affiliates Takata Kyushu Corporation and Takata Services Corporation commenced Chapter 15 cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9, 2017, to seek U.S. recognition of the civil rehabilitation proceedings in Japan. The Hon. Brendan Linehan Shannon oversees the Chapter 15 cases. Young, Conaway, Stargatt & Taylor, LLP, serves as Takata's counsel in the Chapter 15 cases. TLC HEALTH: Ombudsman Files 21st Report --------------------------------------- Linda Scharf, RN, DNS, the Patient Care Ombudsman for TLC Health Care Network, has filed with the U.S. Bankruptcy Court for the Western District of New York her Twenty-First Report which covers the period May 16 to July 15, 2017. The Ombudsman reported that there was no decline in the medical care. The Ombudsman also reported a slight increase in census on the medical surgical and the behavioral health units. The Ombudsman also said that she continued to receive positive statements by the patients commenting on the Debtor's quality of care. The Ombudsman noted that one Medical Surgical patient who expressed dissatisfaction with his care related to the administration of oxygen. The staff was aware of the patient's dissatisfaction and had followed through appropriately. The staff had followed the physician's orders concerning the care. The Ombudsman noted that there were two patients on the Behavioral Health unit who expressed concerns about their care, which she made a followed through with the Nurse Manager. The Ombudsman said that one of the patients concern was still being actively investigated, while the second patient's concerns had been addressed. The Ombudsman said that she had also followed through with the Vice President Quality for TLC about the thoroughness of the investigations. The Ombudsman noted that one investigation is still ongoing. The Ombudsman also reported a decrease in the number of Long Term and Acute Rehab patients from the previous visit, and identified that there were no care issues. Per the Ombudsman Report, the investigation on the issue identified in May in Home Health, which is related to a patient reporting missing respiratory therapy visits, had already been complete and the agency did follow physician orders. The Ombudsman observed that the facility continues to concentrate on the needs of its patients while it continues to adapt and make operational changes. A full-text copy of the PCO Report dated August 9, 2017, is available at https://is.gd/br1TPd About TLC Health Network TLC Health Network filed a Chapter 11 petition (Bankr. W.D.N.Y. Case No. 13-13294) on Dec. 16, 2013. The petition was signed by Timothy Cooper as Chairman of the Board. The Debtor estimated assets of at least $10 million and debt of at least $1 million. Jeffrey A. Dove, Esq., at Menter, Rudin & Trivelpiece, P.C., serves as the Debtor's counsel. Damon & Morey LLP is the Debtor's special health care law and corporate counsel. The Bonadio Group is the Debtor's accountants. Howard P. Schultz & Associates, LLC is the Debtor's appraiser. The case is assigned to the Hon. Carl L. Bucki. A three-member panel composed of Cannon Design, Chautauqua Opportunities, Inc., and Jamestown Rehab Services has been appointed as the official unsecured creditors committee. Bond, Schoeneck & King, PLLC is the counsel to the Committee. The Committee has tapped NextPoint LLC as financial advisor. TOWERSTREAM CORP: Reports $5.37 Million Net Loss for 2nd Quarter ---------------------------------------------------------------- Towerstream Corporation filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss attributable to common stockholders of $5.37 million on $6.51 million of revenues for the three months ended June 30, 2017, compared to a net loss attributable to common stockholders of $4.73 million on $6.87 million of revenues for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss attributable to common stockholders of $9.18 million on $13.09 million of revenues compared to a net loss attributable to common stockholders of $11.72 million on $13.60 million of revenues for the six months ended June 30, 2016. As of June 30, 2017, Towerstream had $28.17 million in total assets, $37.64 million in total liabilities and a total stockholders' deficit of $9.46 million. "We are very pleased with our progress during the quarter, and are confident we are on the right track for future growth," said Ernest Ortega, chief executive officer of Towerstream. "We achieved a 10% sequential increase in sales and an 18% increase in sales productivity compared to the first quarter, with other metrics showing stabilization and improvement." "We believe the initiatives we put in place during 2016 and 2017 have and will continue to create a more sustainable business model that will enable us to take full advantage of the fast-paced, growing demand for fixed wireless broadband services for businesses," he added. Sales of $163,000 increased 10% from the first quarter of 2017 and were up 25% from the second quarter of 2016. Reported sales represent the monthly revenue value of contracts signed with customers during the period. "We are especially pleased with the recent trend toward higher sales and longer-term contracts with our customers. Our second quarter average sales productivity increased 18% over the prior quarter. In addition, 88% of the contracts signed to date in 2017 are for terms ranging from 12 to 48 months. This represents an increase of 52% over 2016," said Ortega. "We are gratified with the progress we are making on our strategies to increase both sales volume and velocity. These strategies include a more disciplined approach to identifying and targeting customers, a new methodology for marketing our products to end users and the implementation of professional sales and development training," said Ortega. The average revenue per user (ARPU) for new sales contracts signed during the second quarter was $542, a 46% increase from the prior year quarter. Ortega said, "While we continue to see improvements in this key performance indicator, we are working to drive further increases. We believe our competitive advantages including the speed-to-market benefits of fixed wireless, the reliability of our network and our ability to provide a carrier-class internet connection at very competitive rates, will enable us to further increase our ARPU as we move forward." The churn rate was 1.48% in the second quarter of 2017, an improvement of 7% from the second quarter of 2016. Churn is the normal monthly attrition of revenue in the internet connectivity industry. "This is our second consecutive quarter with a churn rate below 1.5% and reflects our commitment to building and maintaining strong long-term customer relationships. It also is a good indication that our churn is now on par with the rest of the industry which should help our growth in future revenues," added Ortega. The revenue value of all active installations was $6.5 million in the second quarter of 2017, consistent with the first quarter of 2017. "Revenues are stabilizing and we are poised for growth. We are encouraged by the level of new customer installations and adds in the second quarter, which was the highest since the fourth quarter of 2015. With these positive indicators, we believe we will begin to see an improvement in revenues in coming quarters," said Ortega. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for continuing operations and excluding non-cash charges for stock-based compensation were $247,000 for the second quarter of 2017. This was consistent with the first quarter, but up significantly from $111,000 in the second quarter of 2016. "Our steady improvement in EBITDA over the past year is due to our overriding focus on driving sales, streamlining operations and increasing efficiency. Our efforts are gaining traction and we look forward to further progress," said Laura W. Thomas, chief financial officer of Towerstream. "Our main objective in 2017 has been the execution of our recently implemented strategic plan, designed to build a strong foundation for future growth. We are very pleased with our progress to date and remain confident in our ability to continue this trend. During this execution and transformation phase, Towerstream will remain opportunistic and look for investment opportunities to increase the velocity of our growth," Ortega added. A full-text copy of the Form 10-Q is available for free at: https://is.gd/DTR3Ns About Towerstream Corporation Towerstream Corporation (OTCQB:TWER) -- http://www.towerstream.com/ -- is a fixed-wireless fiber alternative company delivering high-speed Internet access to businesses. The Company offers broadband services in 12 urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area. Towerstream reported a net loss attributable to common stockholders of $22.15 million on $26.89 million of revenues for the year ended Dec. 31, 2016, compared to a net loss attributable to common stockholders of $40.48 million on $27.90 million of revenues for the year ended Dec. 31, 2015. Marcum LLP, in New York, NY, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. TROVERCO INC: Committee Taps Protiviti as Financial Advisor ----------------------------------------------------------- The official committee of unsecured creditors of Troverco, Inc. received approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to hire Protiviti Inc. as its financial advisor. The firm will provide these services in connection with the Debtor's Chapter 11 case: (a) review and analysis of historical operating results and recent performance and comparison to Debtor's long-term projections; (b) review and analysis of the Debtor's weekly financial and cash flow performance as compared to its budget; (c) assessment of liquidity needs, cash flows and viability/profitability of the business; (d) analysis of sufficiency and terms of DIP financing, if any; (e) review and analysis of the Debtor's sale of a portion of its business to AdvancePierre Foods; (f) analysis of the Debtor's business as a going concern; (g) identification and valuation of any unencumbered assets; (h) assessment and analysis of litigation proceeds and potential causes of action; (i) expert testimony related to any financial or litigation matter the committee may require; (j) preparation of estimated payout or distribution analyses; (k) review and analysis of financial and cash flow projections to evaluate the feasibility of the Debtor's projections or any proposed plan of reorganization; (l) review of the Debtor's plan of reorganization and disclosure statement; (m) assist the committee and its counsel in developing strategies and related negotiations with respect to elements of the Debtor's treatment to the unsecured creditors under a proposed plan or such treatment under alternative proposals; and (n) assist the committee and its counsel as requested with respect to various financial matters. Protiviti has agreed to provide a 25% discount from its standard rates. The billing rates for the firm's professional and paraprofessionals and its proposed rate structure for the Debtor's case are: Standard Hourly Rates Negotiated Rates ------------ ---------------- Managing Directors $675 - $725 $506 - $544 Directors $430 - $575 $323 - $431 Associate Directors $430 - $575 $323 - $431 Senior Managers $340 - $475 $255 - $356 Managers $340 - $475 $255 - $356 Senior Consultants $210 - $315 $158 - $236 Consultants $210 - $315 $158 - $236 Administrative $120 $90 Michael Atkinson, managing director of Protiviti, disclosed in a court filing that the firm and its employees are "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael L. Atkinson Protiviti Inc. 1 East Pratt Street, Suite 800 Baltimore, MD 21202 Phone: 1.888.556.7420 About Troverco Inc. Headquartered in Saint Louis, Missouri, Troverco -- http://www.troverco.com/-- is in the food industry specializing in freshly prepared sandwiches and snacks for delivery to businesses. Troverco began as a franchise in 1959 under the name Lakeshire Sandwiches. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D. Mo. Case No. 17-44474) on June 29, 2017, estimating its assets and liabilities at between $1 million and $10 million each. The petition was signed by Joseph E. Trover, Jr., chief executive officer. Judge Charles E. Rendlen III presides over the case. Spencer Fane LLP serves as the Debtor's bankruptcy counsel. The Debtor hired Cullen and Dykman LLP as co-counsel and Three Twenty-One Capital Partners, LLC as financial advisor and investment banker. On July 18, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Goldstein & McClintock LLLP represents the committee as bankruptcy counsel. TRUE RELIGION: Hires Province as Financial Advisor -------------------------------------------------- The Official Committee of Unsecured Creditors of True Religion Apparel, Inc., et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Province, Inc., as financial advisor to the Committee. The Committee requires Province to: a. become familiar with and analyze the Debtors' cash collateral budget, assets and liabilities, and overall financial condition; b. assist the Committee in determining how to react to the Debtors' restructuring plan or in formulating and implementing its own plan; c. monitor the GOB store liquidations and IP sale process, interface with the Debtors' professionals, and advise the Committee regarding the process; d. prepare, or review as applicable, avoidance action and claim analyses; e. assist the Committee in reviewing the Debtors' financial reports, including, but not limited to, SOFAs, Schedules, cash budgets, and Monthly Operating Reports; f. advise the Committee on the current state of the chapter 11 Cases; g. advise the Committee in negotiations with the Debtors and third parties as necessary; h. participate as a witness in hearings before the bankruptcy court with respect to matters upon which Province has provided advice; and i. other activities as are approved by the Committee, the Committee's counsel, and as agreed to by Province. Province will be paid at these hourly rates: Principal $690-745 Managing Director $580-630 Senior Director $540-570 Director $470-530 Sr. Associate $400-460 Associate $340-390 Analyst $270-330 Paraprofessional $150 Province will also be reimbursed for reasonable out-of-pocket expenses incurred. Peter Kravitz, partner of Province, Inc., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors' chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason. Province can be reached at: Peter Kravitz PROVINCE, INC. 2360 Corporate Circle, Suite 330 Henderson, NV 89074 Tel: 702-685-5555 Fax: 702-685-5556 About True Religion Apparel, Inc. Manhattan Beach, California-based True Religion Apparel Inc. designs and markets denim, sportswear and accessories for men, women and children under the "True Religion" brand. Founded by Jeff Lubell in 2002, the Company sells its products through wholesale and retail channels on six continents and through their websites at http://www.truereligon.com/and http://www.last-stitch.com/ As of July 5, 2017, the True Religion Brand Jeans retailer had 140 True Religion and Last Stitch brick-and-mortar stores. The company has been controlled by TowerBrook Capital Partners since its take-private transaction in July 2013. True Religion and four affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 17-11460) on July 5, 2017, after obtaining secured stakeholder support for a restructuring that would reduce debt by over $350 million. True Religion had $243.3 million in assets against $534.7 million of liabilities as of Jan. 28, 2017. The company's legal advisors include Wachtell Lipton Rosen & Katz and Pachulski Stang Ziehl & Jones. Its financial advisor is MAEVA Group, LLC. Prime Clerk LLC is the claims and noticing agent. The Ad Hoc Group of Unaffiliated Prepetition First and Second Lien Lenders -- which signed the RSA -- tapped Akin Gump Strauss Hauer & Feld LLP as counsel and Moelis & Company, LLP, as financial advisor. On July 12, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee hired Cooley LLP, as counsel, Province, Inc., as financial advisor. TRUMBLE AND KOCUR: Taps Gordon & Schaal as Legal Counsel -------------------------------------------------------- Trumble and Kocur Storage Company, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of New York to hire legal counsel. The Debtor proposes to employ Gordon & Schaal, LLP to give legal advice regarding its duties under the Bankruptcy Code and provide other legal services related to its Chapter 11 case. The firm will charge an hourly fee of $350 for the services of its attorneys and $150 for paralegal services. Gordon & Schaal received a $50,000 retainer, of which $1,717 was used to pay the filing fee. No member of Gordon & Schaal has connection with the Debtor or any of its creditors, according to court filings. The firm can be reached through: William Gavitt, Esq. Kenneth W. Gordon, Esq. Gordon & Schaal, LLP 1039 Monroe Avenue Rochester, NY 14620 Tel: (585) 244-1070 Fax: 585-244-1085 Email: kengor@rochester.rr.com About Trumble and Kocur Storage Company Trumble and Kocur Storage Company, Inc. is engaged in the general warehousing and storage business. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. N.Y. Case No. 17-20806) on July 25, 2017. Cindy Gavitt, president, signed the petition. According to the petition, Trumble and Kocur is a small business debtor as defined in 11 U.S.C. Section 101(51D). The Debtor holds a potential claim of $300,000 against landlord Hanna-Woods Geneva, LLC for lost profits. At the time of the filing, the Debtor disclosed $553,721 in assets and $1.26 million in liabilities. Judge Paul R. Warren presides over the case. TURNBERRY/MGM GRAND: Court OKs Disclosures, Confirms Plan --------------------------------------------------------- The Hon. August B. Landis of the U.S. Bankruptcy Court for the District of Nevada has approved Turnberry/MGM Grand Towers, LLC, et al.'s disclosure statement and confirmed the Debtors' first amended joint plan of reorganization. As reported by the Troubled Company Reporter on June 5, 2017, the Debtors filed a disclosure statement to accompany their first amended joint plan of reorganization. The Plan generally provides for the repayment of claims against Debtors. Under the Plan, all allowed priority claims in Classes 1-A, 1-B, and 1-C will be paid in full. Further, the holders of equity interest -- Classes 7-A, 7-B, and 7-C -- will be deemed to have surrendered 100% of their Equity Interests to the Debtor that issued such Equity Interest. The Equity Interests in each Debtor will be deemed extinguished on the Effective Date and Holders of Class 7 Equity Interests shall not receive any Distributions on account of their Equity Interests. About Turnberry/MGM Grand Based in Las Vegas, Nevada, Turnberry/MGM Grand Towers LLC and two of its affiliates filed for bankruptcy protection under Chapter 11 on June 26, 2015 (Bankr. D. Nev. Lead Case No. 15-13706). Judge August B. Landis presides over the Debtors' cases. Gregory E. Garman, Esq., at Garman Turner Gordon LLP, represents the Debtors in their cases. The Debtors estimated both assets and liabilities between $1 million and $10 million. UNILIFE CORP: SSG Acted as Investment Banker in Asset Sale ---------------------------------------------------------- SSG Capital Advisors, LLC, acted as the investment banker to Unilife Corporation "Unilife" or the "Company") in the sale of substantially all of its assets to UNL Holdings LLC, an affiliate of OrbiMed Advisors LLC ("OrbiMed"), and Amgen Inc. ("Amgen"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware. The transaction closed in July 2017. Unilife designs, manufacturers and supplies innovative injectable drug delivery systems for multi-national customers with large molecule drugs. The Company's devices can enhance and differentiate the injectable therapies of its pharmaceutical and biotechnology customers through their innovative features and design functionality to optimize the safe, simple and convenient administration of injectable therapies. In 2016, Unilife began focusing exclusively on active and new customer programs in its portfolio of wearable injector systems. The strategic shift was predicated on the number of new generation, large molecule drugs being actively developed by numerous large pharmaceutical and biotechnology companies around the world. The Company deployed significant capital on research and development to create customized devices for its customers. However, as a result of the devices not yet being commercially available, revenue was limited causing tightened liquidity. Unilife then implemented significant cost reduction initiatives to decrease additional cash burn necessary to reach commercialization. SSG was retained in August 2016 to attempt to raise capital and to restructure the Company's balance sheet. As that process played out, it became apparent that a restructuring was not feasible. As a result, Unilife filed for Chapter 11 protection in the District of Delaware in April 2017. SSG expeditiously conducted a comprehensive marketing process, which resulted in a broad range of interest primarily from strategic parties. Credit bids from OrbiMed and Amgen on different subsets of collateral were ultimately determined to be the highest and best offers for substantially all of the Company's assets. OrbiMed is a leading investment firm focused on the healthcare sector. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies, utilizing a range of investment vehicles. Amgen is a leading biotechnology company that discovers, develops, manufacturers and delivers human therapeutics worldwide for patients with serious illnesses. Amgen offers products for treatment of illnesses in the areas of oncology, hematology, cardiovascular, inflammation, bone health, nephrology and neuroscience. Other professionals who worked on the transaction include: * Mark E. Felger, Erik Schmidt, Eric L. Scherling and Keith L. Kleiman of Cozen O'Connor P.C., co-counsel to Unilife Corporation; * Richard A. Silfen and Chad J. Rubin of Duane Morris LLP, co-counsel to Unilife Corporation; * Jeffrey H. Davidson, Debra Grassgreen, Bradford J. Sandler and David J. Barton of Pachulski Stang Ziehl & Jones LLP, counsel to OrbiMed Advisors LLC; * James M. Wilton, Richard D. Batchelder, Jr., Patricia I. Chen and Alice Y. Lee of Ropes & Gray LLP, counsel to Amgen Inc.; * Erin R. Fay and Justin R. Alberto of Bayard, P.A., counsel to Hikma Pharmaceuticals LLC; * Stuart Brown of DLA Piper LLP, counsel to Sanofi Winthrop Industrie S.A.; * Gerald C. Bender and Barry Z. Bazian of Lowenstein Sandler LLP, co-counsel to the Official Committee of Unsecured Creditors; and * Richard A. Barkasy of Schnader Harrison Segal & Lewis LLP, co-counsel to the Official Committee of Unsecured Creditors. About SSG Capital Advisors, LLC SSG Capital Advisors is an independent boutique investment bank that assists middle-market companies and their stakeholders in completing special situation transactions. It provides its clients with comprehensive investment banking services in the areas of mergers and acquisitions, private placements, financial restructurings, valuations, litigation and strategic advisory. SSG has a proven track record of closing over 300 transactions in North America and Europe and is a leader in the industry. Securities are offered through SSG Capital Advisors, LLC (Member SIPC, Member FINRA). All other transactions are effectuated through SSG Advisors, LLC, both of which are wholly owned by SSG Holdings, LLC. SSG is a registered trademark for SSG Capital Advisors, LLC and SSG Advisors, LLC. About Unilife Corporation Unilife Corporation -- http://www.unilife.com-- is a U.S.-based developer and commercial supplier of injectable drug delivery systems. Unilife has a portfolio of innovative, differentiated products with a primary focus on wearable injectors. Products within each platform are customizable to address specific customer, drug and patient requirements. Unilife Corporation filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 17-10805) on April 12, 2017. John Ryan, chief executive officer, signed the petition. The Debtor disclosed total assets of $82.98 million and total liabilities of $201.0 million as of the bankruptcy filing. The Hon. Laurie Selber Silverstein presides over the case. Cozen O'Connor serves as counsel to the Debtor. An official committee of unsecured creditors has been appointed in the case. The panel retained Lowenstein Sandler LLP as counsel. UNITED MOBILE: May Use Cash Collateral Through Oct. 31 ------------------------------------------------------ The Hon. Barbara Ellis-Monro of the U.S. Bankruptcy Court for the Northern District of Georgia has entered a sixth order extending United Mobile Solutions, LLC's use of cash collateral through and including Oct. 31, 2017. A copy of the Sixth Order is available at: http://bankrupt.com/misc/ganb16-62537-220.pdf As reported by the Troubled Company Reporter on April 17, 2017, the Court extended the period within which the Debtor can use cash collateral through and including May 31, 2017, on the terms contained in the cash collateral order. T-Mobile USA, Inc., MetroPCS Georgia, LLC, and MetroPCS Texas, LLC, have agreed to the extension of the cash collateral period. About United Mobile Solutions United Mobile Solutions, LLC, is a carrier master dealer that operates and manages approximately 20 retail cellular phone stores. Its corporate offices are located in Norcross, Georgia. United Mobile filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-62537) on July 20, 2016. The petition was signed by Kil Won Lee, president. At the time of the filing, the Debtor estimated assets of less than 50,000 and liabilities of $1 million to $10 million. The Debtor is represented by Cameron M. McCord, Esq., at Jones & Walden, LLC. An official committee of unsecured creditors has not been appointed in the case. On Dec. 16, 2016, the Debtor filed a proposed disclosure statement and Chapter 11 plan of reorganization. UNITED MOBILE: May Use Cash Collateral Through Oct. 31 ------------------------------------------------------ The Hon. Barbara Ellis-Monro of the U.S. Bankruptcy Court for the Northern District of Georgia has authorized United Mobile Solutions, LLC, to use cash collateral through and including Oct. 31, 2017. The Debtor, T-Mobile USA, Inc., MetroPCS Georgia, LLC, and MetroPCS Texas, LLC, have conferred regarding the cash collateral motion and cash collateral period and agreed to extend the cash collateral period through and including Oct. 31, 2017. A copy of the Order is available at: http://bankrupt.com/misc/ganb16-62537-218.pdf About United Mobile Solutions United Mobile Solutions, LLC, is a carrier master dealer that operates and manages approximately 20 retail cellular phone stores. Its corporate offices are located in Norcross, Georgia. United Mobile filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-62537) on July 20, 2016. The petition was signed by Kil Won Lee, president. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of $1 million to $10 million. The Debtor is represented by Cameron M. McCord, Esq., at Jones & Walden, LLC. An official committee of unsecured creditors has not been appointed in the case. On Dec. 16, 2016, the Debtor filed a disclosure statement and Chapter 11 plan of reorganization. UTE MESA LOT 2: Hires Altman Brothers as Real Estate Broker ----------------------------------------------------------- Ute Mesa Lot 2, LLC, et al., seek authority from the U.S. Bankruptcy Court for the District of Colorado to employ Douglas Elliman Real Estate d/b/a The Altman Brothers, as real estate broker to the Debtor. Ute Mesa Lot 2 requires The Altman Brothers to market and sell the Debtors' property located at 1011 Ute Avenue, Aspen Colorado, 81611. The Altman Brothers will be paid a 5% commission of the gross purchase price of the property. Josh Altman, member of Douglas Elliman Real Estate d/b/a The Altman Brothers, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. The Altman Brothers can be reached at: Josh Altman DOUGLAS ELLIMAN REAL ESTATE D/B/A THE ALTMAN BROTHERS 150 El Camino Drive Beverly Hills, CA 90212 Tel: (310) 819-3250 About Ute Mesa Lot 2, LLC Based in Aspen, Colorado, Ute Mesa Lot 2, LLC is a single asset real estate as defined in 11 U.S.C. Section 101(51B). It owns real property located within the Ute Avenue Subdivision, in Aspen, Colorado. Ute Mesa sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 17-16194) on July 6, 2017. Leathem Stearn, manager, signed the petition. At the time of the filing, Ute Mesa disclosed that it had estimated assets and liabilities of $10 million to $50 million. On July 11, 2017, 999 Ute Avenue, LLC and 1001 UTE Avenue Homeowners Association filed Chapter 11 petitions (Bankr. D. Colo. Case Nos. 17-16391 and 17-16395). The cases are jointly administered with that of Ute Mesa Lot 2, LLC under Case No. 17-16194. 999 Ute Avenue also owns real property within the Ute Avenue Subdivision. 1001 UTE Avenue Homeowners Association is the homeowners association for the subdivision. At the time of the filing, 999 Ute Avenue disclosed that it had estimated assets of less than $1 million and liabilities of less than $100,000. 1001 UTE Avenue estimated assets and liabilities of less than $100,000. VALLEY PETROLEUM: Case Summary & 6 Unsecured Creditors ------------------------------------------------------ Debtors: 5208VPN, LLC 5208 North Richmond Street Appleton, WI 54913 - and - Valley Petroleum, LLC 5208 North Richmond Street Appleton, WI 54913 Type of Business: Based in Appleton, Wisconsin, Valley Petroleum operates a small gas station. Valley Petroleum previously sought Chapter 11 protection on June 23, 2009 (Bankr. E.D. Wisc.). Chapter 11 Petition Date: August 17, 2017 Debtor affiliates that simultaneously filed Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- 5208VPN, LLC 17-28112 Valley Petroleum, LLC 17-28113 Court: United States Bankruptcy Court Eastern District of Wisconsin (Milwaukee) Debtors' Counsel: Leonard G. Leverson, Esq. LEVERSON LUCEY & METZ S.C. 106 West Seeboth Street, Suite 204-1 Milwaukee, WI 53204 Tel: 414-271-8503 Fax: 414-271-8504 E-mail: lgl@levmetz.com Estimated Assets and Liabilities: Assets Liabilities ($000) ($000) ---------- ----------- 5208VPN, LLC $1,000-$10,000 $1,000-$10,000 Valley Petroleum $100-$500 $1,000-$10,000 The petitions was signed by Steve A. Rosek, member. 5208VPN, LLC, says it has no unsecured creditors. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/wieb17-28112.pdf Valley Petroleum's list of six unsecured creditors is available for free at http://bankrupt.com/misc/wieb17-28113.pdf VANGUARD HEALTHCARE: Seeks to Expand Scope of Bradley Services -------------------------------------------------------------- Vanguard Healthcare, LLC has filed a motion seeking court approval to expand the scope of services of Bradley Arant Boult Cummings LLP and Baker Donelson Bearman Caldwell & Berkowitz, PC. In its motion, the company asked the U.S. Bankruptcy Court for the Middle District of Tennessee to allow both firms to also represent its chief executive officer William Orand in a lawsuit filed by the State of Tennessee in September last year. In the same filing, Vanguard Healthcare also requested court approval to pay legal fees for Mr. Orand who was named in the lawsuit by the plaintiff earlier this year. The plaintiff asserts claims of more than $56 million against Vanguard Healthcare and certain affiliates under the False Claims Act and the Tennessee Medicaid False Claims Act. The lawsuit is pending in the U.S. District Court for the Middle District of Tennessee. Bradley Arant and Baker Donelson serve as the company's bankruptcy counsel and special litigation counsel, respectively. About Vanguard Healthcare, LLC Vanguard Healthcare, LLC is a long-term care provider headquartered in Brentwood, Tennessee, providing rehabilitation and skilled nursing services at 14 facilities in four states (Florida, Mississippi, Tennessee and West Virginia). Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a Chapter 11 bankruptcy petition (Bankr. M.D. Tenn. Lead Case No. 16-03296) on May 6, 2016. The petitions were signed by William D. Orand, the CEO. Vanguard estimated assets in the range of $100 million to $500 million and liabilities of up to $100 million. The cases are assigned to Judge Randal S. Mashburn. The Debtors hired Bradley Arant Boult Cummings LLP as bankruptcy counsel; Baker, Donelson, Bearman, Caldwell & Berkowitz PC, Mitchell Day Law Firm, PLLC and Burr & Forman LLP as special counsel; BMC Group as noticing agent; and Stewart & Barnett, Ltd. and Maggart & Associates, P.C. as accountants. On May 24, 2016, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Bass, Berry & Sims PLC serves as bankruptcy counsel to the committee. CohnReznick LLP is the committee's financial advisor. The U.S. Trustee also appointed Laura E. Brown as patient care ombudsman for Vanguard Healthcare. * * * On Nov. 30, 2016, the Debtors filed a Chapter 11 plan of reorganization and disclosure statement. A trial to consider confirmation of an amended plan was slated to begin Aug. 1, 2017, in Nashville. The Debtors filed a second amended plan on Aug. 4. VANGUARD NATURAL: Deloitte Approved as Valuation Service Provider ----------------------------------------------------------------- Vanguard Natural Resources, LLC, et al., sought and obtained authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ Deloitte Transactions and Business Analytics LLP, as valuation service provider to the Debtor. Vanguard Natural requires Deloitte to: -- provide advice and recommendations to assist the Debtors: (1) with its recognition and measurement of certain identifiable assets at the date of emergence from bankruptcy for financial reporting purposes, and (2) its allocation of the cost of the company to the assets at the date of emergence for federal income tax planning and compliance purposes; -- for financial reporting, federal tax planning, and compliance purposes, Deloitte will develop an estimate of the fair value and fair market value of certain of the Debtors' assets, including their oil and gas reserves in addition to real and personal property related the Big Escambia Facilities, Wildhorse Pipeline System, and Elk Basin Natural Gas Processing Plant, in accordance with fresh-start accounting guidance. Deloitte will be paid at these hourly rates: Partner/Principal $528 Managing Director $498 Senior Manager $465 Manager $433 Senior Consultant $380 Consultant $328 Deloitte will also be reimbursed for reasonable out-of-pocket expenses incurred. Jeffrey Kennedy, principal of Deloitte Transactions and Business Analytics LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Deloitte can be reached at: Jeffrey Kennedy DELOITTE TRANSACTIONS AND BUSINESS ANALYTICS LLP 1111 Bagby Street, Suite 4500 Houston, TX 77002 Tel: (713) 982-2000 Fax: (713) 982-2001 About Vanguard Natural Resources, LLC Vanguard Natural Resources, LLC (OTC: VNRSQ) --http://www.vnrllc.com/-- is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard's assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Permian Basin in West Texas and New Mexico, the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama, the Anadarko Basin in Oklahoma and North Texas, the Piceance Basin in Colorado, the Big Horn Basin in Wyoming and Montana, the Arkoma Basin in Arkansas and Oklahoma, the Williston Basin in North Dakota and Montana, the Wind River Basin in Wyoming, and the Powder River Basin in Wyoming. Vanguard Natural Resources, LLC, and certain subsidiaries filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 17-30560) on Feb. 2, 2017. The Chapter 11 cases are assigned to the Hon. Judge Marvin Isgur. The Debtors listed total assets of $1.54 billion and total debt of $2.3 billion as of Feb. 1, 2017. Paul Hastings LLP is serving as legal counsel and Evercore Partners is acting as financial advisor to Vanguard. Opportune LLP is the Company's restructuring advisor. Prime Clerk LLC is serving as claims and noticing agent. Judy R. Robbins, the U.S. Trustee for Region 7, on Feb. 14, 2017, appointed three creditors to serve on the official committee of unsecured creditors appointed in the Debtor's case. The Committee hired Akin Gump Strauss Hauer & Feld LLP as counsel and FTI Consulting, Inc., as financial advisor. The Company on March 16, 2017, filed a motion with the Bankruptcy Court disclosing a Stipulation and Agreed Order entered into on March 15, 2017, by and between the Debtors and certain Unaffiliated holders of its Preferred Units and common units pursuant to which the Debtors and the Ad Hoc Equity Committee agreed, among other things, that professionals for the Ad Hoc Equity Committee would be funded by the Debtors' estates for services performed within a defined scope and subject to agreed caps on fees and expenses as described in the Stipulation and Agreed Order. Counsel to the Ad Hoc Equity Committee are Sharon M. Beausoleil, Esq., Alexander Chae, Esq., and Holland N. O'Neil, Esq., at Gardere Wynne Sewell LLP. Attorneys for Citibank, N.A, as administrative agent under the Third Amended and Restated Credit Agreement, dated as of Sept. 30, 2011, are Chris Lopez, Esq., Stephen Karotkin, Esq., and Joseph H. Smolinsky, Esq., at Weil Gotshal & Manges LLP. Vanguard Natural Resources successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name of Vanguard Natural Resources, Inc., on August 1, 2017. VERSACOM LP: Wants to Use Cash Collateral of IRS ------------------------------------------------ Versacom, LP, seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas to use cash to fund ongoing business operations. Upon information and belief, the Internal Revenue Service holds an interest in certain assets of the Debtor, including assets which may constitute cash collateral in the Debtor. The Debtor tells the Court that the use of cash collateral will ensure that the Debtor can maintain payroll, general and administrative expenses, payment arrangements with its suppliers and provide sufficient working capital for the Debtor's normal business operations. It is critical, however, that the Debtor obtains the use of cash collateral to ensure continued operations in the normal course of business and timely payment of the Debtor's post-petition obligations, including payroll, utilities and other operating expenses as set forth in the budget. The Debtor warns that any interruption of the Debtor's cash flow would severely and irreparably harm the operations of the Debtor and the value of the Debtor's estate. The Debtor must have access to its cash to continue to meet existing obligations to its customers, employees and suppliers, and pay the costs of operations. The Debtor's cash position is such that, without the continuing use of its cash, the Debtor cannot meet any of its operating expenses. However, the proposed use of any cash collateral of the potential secured creditors will provide sufficient working capital to place the Debtor in a position to meet all operating expenses on a timely basis. The Debtor anticipates that approval of the use of cash collateral, which is critical to the continuation of the Debtor's efforts, will stabilize and maintain the Debtor's operations, provide tangible reassurance to postpetition suppliers and customers and preserve the going concern value of its assets and operations for the benefit of all parties in interest. As adequate protection of the interest of the Internal Revenue Services, the Debtor proposes to make monthly payments in the amount of $8,000 on the first day of each month, commencing on Sept. 1, 2017, and on the first day of each month thereafter. As additional adequate protection of the IRS's interest in cash collateral, the Debtor proposes to grant the IRS replacement liens on post-petition cash collateral and property of the Debtor, including inventory, accounts receivable, cash, cash equivalents, intangibles, and all other post-petition property of the Debtor, including proceeds and products thereof, but only to the same extent, validity and priority that existed prepetition excluding only Chapter 5 causes of action. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/txnb17-32714-29.pdf Headquartered in Dallas, Texas, Versacom, LP, provides services in the field of wireless and telecommunication services. Versacom filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 17-32714) on July 13, 2017, estimating its assets and liabilities at up to $50,000 each. Howard Marc Spector, Esq., at Spector & Johnson, PLLC, serves as the Debtor's bankruptcy counsel. VIA NIZA: Amended Plan Gives Payments to Triangle Reo ----------------------------------------------------- Via Niza Inc. filed with the U.S. Bankruptcy Court for the District of Puerto Rico an amended disclosure statement describing its amended plan of reorganization, dated August 11, 2017. The Amended Plan adds Triangle Reo PR Corp as a secured claimant in Class 2. Triangle Reo will be paid through 60 monthly payments of $3,299 calculated at a rate of 5% using an amortization schedule of 20 years and a balloon payment at the end of month 60 in the amount of $417,274. The new plan also adds Triangle Reo as an unsecured claimant in Class 3. Triangle Reo will, however, receive nothing of its allowed claims in this class. As previously reported in the Troubled Company Reporter, the initial plan only identified two unsecured creditors: Asociacion Cond. Metro Medical Center, which asserts a claim of $6,248, and CRIM, which asserts a claim of $13,385 against the company. A full-text copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/prb17-00215-11-96.pdf About Via Niza Inc. Via Niza Inc., a corporation, owns a commercial property located at Metro Medical Center Condominium. The property is used as a medical and patient treatment office for hematology and oncology patients. Via Niza sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 17-00215) on Jan. 18, 2017. At the time of the filing, the Debtor estimated assets and liabilities of less than $1 million. Myrna L. Ruiz-Olmo, Esq., at MRO Attorneys at Law LLC, is the Debtor's bankruptcy counsel. Luis Cruz Lopez is the Debtor's accountant. VITARGO GLOBAL: Ch.11 Trustee Hires Arent Fox as Bankr. Counsel --------------------------------------------------------------- Richard J. Laski, the Chapter 11 Trustee of Vitargo Global Sciences, Inc., seeks authority from the U.S. Bankruptcy Court for the Central District of California to employ Arent Fox LLP, as general bankruptcy and restructuring counsel to the Trustee. The Trustee requires Arent Fox to: a. investigate, identify, restructure, and liquidate all assets of the estate; b. investigate and analyze the scope and validity of any actions, including avoidance claims, and file any necessary actions and adversary proceedings; c. assist the Trustee to employ other professionals, as needed; d. assist the Trustee in other matters necessary for the efficient administration of the estate including, corporate law, real estate law, intellectual property law, and other legal advice; e. prepare on behalf of the Trustee all necessary motions, applications, answers, orders, reports, and papers in support of positions taken by the Trustee; f. appear before the Bankruptcy Court and other courts in which matters may be heard and protect the interests of the Trustee and the Debtor's estate before said courts and the Office of the U.S. Trustee; and g. perform all other necessary legal services in the bankruptcy case, as requested by the Trustee. Arent Fox will be paid at the hourly rates of $570 to $770. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Aram Ordubegian, partner of Arent Fox LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Arent Fox can be reached at: Aram Ordubegian, Esq. ARENT FOX LLP 555 West Fifth Street, 48th Floor Los Angeles, CA 90013-1065 Tel: (213) 629-7400 Fax: (213) 629-7401 E-mail: aram.ordubegian@arentfox.com About Vitargo Global Sciences, Inc. Vitargo Global Sciences, Inc., was initially formed as Vitargo Global Sciences, LLC, in June 2013, a follow-along entity of GENr8, Inc., a predecessor business to the Debtor. Conversion from LLC to Inc. took place on September 2015. The Company's line of business includes manufacturing dry, condensed, and evaporated dairy products. Vitargo Global Sciences previously filed a Chapter 12 bankruptcy petition in in Texas Northern Bankruptcy Court on May 5, 1992 (N.D. Tex. Case No. 92-42174). Vitargo Global Sciences, based in Irvine, California, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 17-10988) on March 15, 2017. The petition was signed by Anthony Almada, chief executive officer. The Debtor estimated $1 million to $10 million in both assets and liabilities. Judge Theodor Albert presides over the case. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger, is serving as the Debtor's bankruptcy counsel. Damian Moos, Esq., at Kang Spanos & Moos LLP, is the litigation counsel. Jeffrey Bolender, Esq., at Bolender Law Firm PC, serves as the Debtor's state court insurance coverage counsel. On April 4, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Committee retained Marshack Hays LLP, as general counsel. Richard J. Laski, the Chapter 11 Trustee, hired Arent Fox LLP, as general bankruptcy and restructuring counsel. VMF INC: Disclosures Approved; Oct. 5 Plan Hearing Set ------------------------------------------------------ Judge John J. Thomas of the U.S. Bankruptcy Court for the Middle District of Pennsylvania approved VMF, Inc.'s disclosure statement referring to its amended plan of reorganization filed on June 19, 2017. Sept. 15, 2017, is fixed as the last day for submitting written acceptances or rejections of the plan. Sept. 15, 2017, is fixed as the last day for filing and serving written objections to confirmation of the plan. Sept. 30, 2017, is fixed as the last day for filing with the Court a tabulation of ballots accepting or rejecting the plan. Oct. 5, 2017, at 9:30 am in the Courtroom No. 2, Max Rosenn U.S. Courthouse, 197 South Main Street, Wilkes-Barre, Pennsylvania, is fixed for the hearing on confirmation of the plan. The Troubled Company Reported previously reported that under the plan, allowed Class 5 General Unsecured Claims will be paid in full in a lump sum payment within 60 days of the Effective Date. If the Internal Revenue Service amends its unsecured claim after the Debtor files additional corporate tax reports, any additional tax due will be paid within 60 days of the amended claim unless the Debtor files a claim objection. A copy of the Disclosure Statement is available at: http://bankrupt.com/misc/pamb17-01128-28.pdf About VMF Inc. VMF, Inc., is a Pennsylvania corporation which was incorporated on April 29, 1983, and conducted a powder coating business along with some metal fabrication. In 2013, James T. Ritko II, a shareholder of the Debtor, purchased a majority interest the stock and subsequently became the sole shareholder. After acquiring the stock, Mr. Ritko continued to operate a powder coating business as a sole proprietorship in the building owned by the Debtor. VMF sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 17-01128) on March 23, 2017. The case is assigned to Judge John J. Thomas. At the time of the filing, the Debtor estimated assets of less than $1 million and liabilities of less than $500,000. John H. Doran, Esq., and Lisa M. Doran, Esq., at Doran & Doran, P.C., serve as the Debtor's legal counsel. WALLER MARINE: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------- The Office of the U.S. Trustee on August 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Waller Marine, Inc. About Waller Marine Waller Marine, Inc. -- http://www.wallermarine.com-- provides design, construction management, regulatory assistance, project development and contractual compliance to the marine transportation and offshore industries. Founded in 1974 and based in Houston, Texas, WMI is a licensed engineering firm with EPC capabilities. It claims to be a leader in Floating Gas to Liquids (GTL), Floating Power Generation and Floating Liquefaction. Waller Marine filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 17-34230) on July 7, 2017, estimating its assets and liabilities at between $1 million and $10 million. The petition was signed by David B. Waller, president, who also sought bankruptcy protection (Bankr. S.D. Tex. Case No. 17-34047) on June 30, 2017. Judge Jeff Bohm presides over the case. Christopher Adams, Esq., at Okin & Adams LLP, serves as the Debtor's bankruptcy counsel. WALTER INVESTMENT: Revises RMS Pacts Provisions to Avoid Default ---------------------------------------------------------------- Walter Investment Management Corp. amended its previously filed annual report on Form 10-K for the fiscal year ended Dec. 31, 2016, and quarterly reports on Form 10-Q for the quarterly periods ended June 30, 2016, Sept. 30, 2016, and March 31, 2017, in order to correct an error in the Company's calculation of the valuation allowance on its deferred tax asset balances. On Aug. 9, 2017, the Company also filed its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017. As previously disclosed, the Company has entered into a Restructuring Support Agreement with lenders holding, as of July 31, 2017, more than 50% of the loans and/or commitments outstanding under the Amended and Restated Credit Agreement, dated as of Dec. 19, 2013, by and among the Company, as the borrower, Credit Suisse AG, as administrative agent, and the lenders party thereto. As set forth in the RSA, the parties have agreed to, among other things, the principal terms of a proposed financial restructuring of the Company, which will be implemented through an out-of-court restructuring and, in the absence of sufficient stakeholder support for an out-of-court restructuring, a prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code. Due to the potential for an In-Court Restructuring, substantial doubt has been raised about the Company's ability to continue as a going concern, and the audit opinion included in the Company's Annual Report on Form 10-K/A for the year ended Dec. 31, 2016 contains a going concern emphasis paragraph. Each of the Amended Filings and the 2017 Second Quarter Report discuss those matters in greater detail and states the Company's consolidated financial statements included therein have been prepared assuming the Company will continue as a going concern. As disclosed on the Company's Current Reports on Form 8-K filed with the SEC on June 2, 2017, June 12, 2017, July 7, 2017 and July 27, 2017, the Company received limited waivers from each of its warehouse and advance facility lenders to the extent necessary to waive any default, event of default, amortization event, termination event or similar event resulting or arising from the Restatement. Due to the Going Concern Disclosures, the Company has obtained amendments from each of its affected warehouse lenders to avoid potential defaults under its warehouse facilities in respect thereof. On August 8, 2017, the Company entered into amendments to the following agreements and related transaction documents: * Amended and Restated Master Repurchase Agreement, dated May 22, 2017 (as amended, restated, supplemented or otherwise modified prior to the date hereof), among Reverse Mortgage Solutions, Inc., as a seller, RMS REO BRC, LLC, as a seller, and Barclays Bank PLC, as purchaser and agent; and * Amended and Restated Master Repurchase Agreement, dated as of Feb. 21, 2017 (as amended, restated, supplemented or otherwise modified prior to the date hereof) among Credit Suisse First Boston Mortgage Capital LLC, as administrative agent, Credit Suisse AG, acting through its Cayman Islands Branch, as a committed buyer and a buyer, Alpine Securitization LTD, as a buyer, and other buyers joined thereto from time to time, Reverse Mortgage Solutions, Inc., as a seller, and RMS REO CS, LLC. The Company has also received similar amendments from each of its other affected warehouse lenders. The Going Concern Amendments revise certain provisions in each agreement to the extent necessary to avoid any default or event of default that may have otherwise been caused by the Going Concern Disclosures contained in the Company's financial statements for the period ended Dec. 31, 2016. As previously disclosed, the Company and the Consenting Term Lenders entered into a waiver to the Credit Agreement, pursuant to which the Consenting Term Lenders representing the Required Lenders (as defined in the Credit Agreement) waived, subject to the conditions specified therein, certain events of default under the Credit Agreement as a result of or arising from a "going concern" or like qualification in the auditor report delivered in connection with the Amended Filings. In connection with providing the various amendments, certain of the Company's lenders have effected reductions in its advance rates and / or have required other changes to the terms of such facilities. About Walter Investment Management Corp. Walter Investment Management Corp. -- http://www.walterinvestment.com/-- is an independent servicer and originator of mortgage loans and servicer of reverse mortgage loans. Based in Fort Washington, Pennsylvania, the Company has approximately 4,500 employees and services a diverse loan portfolio. Walter Investment reported a net loss of $833.85 million for the year ended Dec. 31, 2016, a net loss of $263.2 million for the year ended Dec. 31, 2015, and a net loss of $110.3 million for the year ended Dec. 31, 2014. * * * As reported by the TCR on July 20, 2017, S&P Global Ratings said it lowered its long-term issuer credit rating on Walter Investment to 'CCC-' from 'CCC'. The outlook is negative. S&P said, "At the same time, we also lowered the rating on the company's senior secured term loan to 'CCC-' from 'CCC' and the rating on its senior unsecured notes to 'C' from 'CC'." The TCR reported on Aug. 9, 2017, Moody's Investors Service has downgraded Walter Investment's corporate family rating to 'Caa3' from 'Caa2'. The rating action follows the company's announcement that it has entered into a restructuring support agreement with more than 50% of senior term loan lenders. WAVELAND RESORT: Court Rejects Disclosure Statement --------------------------------------------------- Judge Katharine M. Samson of the U.S. Bankruptcy Court for the Southern District of Mississippi issued an order denying approval of Waveland Resort Inns, Inc.'s disclosure statement. The objection to the disclosure statement filed by The Peoples Bank, Biloxi, Mississippi is sustained. The Debtor will have 30 days to file an amended disclosure statement. Failure to file an amended disclosure statement within the prescribed time may result in dismissal of the bankruptcy case. Headquartered at Waveland, MS, Waveland Resort Inns, Inc., filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 17-50148) on Jan. 31, 2017. The petition was signed by William R. Lady, president. The Debtor estimated $1 million to $10 million in assets and liabilities. The case is presided by Hon. Katharine M. Samson. The Debtor is represented by Matthew L. Pepper, Esq. WONDERWORK INC: Court Denies Kocich, et al.'s Motion to Intervene ----------------------------------------------------------------- An appeal having been taken to the Appellate Division of the Supreme Court of New York, First Department from the order and judgment of the Supreme Court, New York County, entered on or about Dec. 2, 2016, and non-party donors Clark Kokich, Joseph E. Mullaney, the Walter Haefner Foundation and the Bedford Falls Foundation Charitable Trust having moved for leave to intervene in connection with the appeal. The Court orders that the motion is denied with leave to renew, upon vacatur of a bankruptcy stay which resulted from WonderWork, Inc.'s filing of a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York. The appeals case is captioned HELP ME SEE, INC., Petitioner-Respondent, FOR AN ORDER PURSUANT TO ARTICLE 75 OF THE CPLR CONFIRMING AN ARBITRATION AWARD, v. WonderWORK, INC., FORMERLY KNOWN AS SURGERY FOR THE POOR, INC., Respondent-Appellant, Motion No. M-2464 (N.Y. App. Div.), A copy of the Appellate Court's Order dated August 15, 2017, is available at https://is.gd/gPavQW from Leagle.com. About Wonderwork, Inc. Wonderwork, Inc., is a charity that has provided grants to fund more than 220,000 surgeries in just six years. The Debtor filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-13607) on Dec. 29, 2016, and is represented by Aaron R. Cahn, Esq., at Carter Ledyard & Milburn LLP, as counsel; and BDO USA, LLP, as auditor and tax advisor. The petition was signed by Brian Mullaney, chief executive officer. At the time of filing, the Debtor had $10 million to $50 million in estimated assets and $10 million to $50 million in estimated debts. Jason R. Lilien has been appointed by the Court as Chapter 11 examiner. He hired Loeb & Loeb LLP as his counsel. YIELD10 BIOSCIENCE: Incurs $2.72 Million Net Loss in Second Quarter ------------------------------------------------------------------- Yield10 Bioscience, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss of $2.72 million on $293,000 of total revenue for the three months ended June 30, 2017, compared to a net loss of $3.19 million on $188,000 of total revenue for the three months ended June 30, 2016. For the six months ended June 30, 2017, the Company reported a net loss of $4.81 million on $617,000 of total revenue compared to a net loss of $9.69 million on $345,000 of total revenue for the same period a year ago. As of June 30, 2017, Yield10 had $6.06 million in total assets, $3.82 million in total liabilities and $2.24 million in total stockholders' equity. "Currently, we require cash to fund our working capital needs, to purchase capital assets, to pay our operating lease obligations and other operating costs," the Company stated in the filing. "The primary sources of our liquidity have historically included equity financings, government research grants and income earned on cash and short-term investments." Since its inception, the Company has incurred significant expenses related to its research, development and commercialization efforts. With the exception of 2012, when the Company recognized $38,885,000 of deferred revenue from a terminated joint venture, we have recorded losses since our initial founding, including the three and six months ended June 30, 2017. As of June 30, 2017, the Company had an accumulated deficit of $338,176,000. Its total unrestricted cash and cash equivalents as of June 30, 2017, were $3,011,000 as compared to $7,309,000 at Dec. 31, 2016. As of June 30, 2017, the Company had no outstanding debt. "We will need additional capital to fully implement our business, operating and development plans and to support our capital needs. The timing, structure and vehicles for obtaining future financing are under consideration, but there can be no assurance that such financing efforts will be successful. If we do not receive additional funding during 2017, we may be forced to wind down our business, or have to delay, scale back or otherwise modify our business plans, research and development activities and other operations, and/or seek strategic alternatives." Net cash used for operating activities was $4,286,000 during the six months ended June 30, 2017, compared to net cash used for operating activities during the six months ended June 30, 2016, of $7,616,000. Net cash used for operations during the six months ended June 30, 2017, primarily reflects the net loss of $4,819,000 partially offset by non-cash expenses, including stock-based compensation expense of $663,000 depreciation expense of $106,000 and 401(k) stock matching contribution expense of $46,000. A full-text copy of the Form 10-Q is available for free at: https://is.gd/oHefnB About Yield10 Bioscience Yield10 Bioscience, Inc., formerly known as Metabolix, Inc. -- http://www.yield10bio.com/-- is focused on developing new technologies to achieve step-change improvements in crop yield to enhance global food security. Yield10 has an extensive track record of innovation based around optimizing the flow of carbon in living systems. Yield10 is leveraging its technology platforms and unique knowledge base to design precise alterations to gene activity and the flow of carbon in plants to produce higher yields with lower inputs of land, water or fertilizer. Yield10 is advancing several yield traits it has developed in crops such as Camelina, canola, soybean and corn. Yield10 is headquartered in Woburn, MA and has an Oilseeds center of excellence in Saskatoon, Canada. Yield10 reported a net loss of $7.60 million on $1.15 million of total revenue for the year ended Dec. 31, 2016, compared to a net loss of $23.68 million on $1.35 million of total revenue for the year ended Dec. 31, 2015. RSM US LLP, in Boston, Massachusetts, issued a "going concern" opinion on the consolidated financial statements for the year ended Dec. 31, 2016, noting that the Company has suffered recurring losses from operations and has insufficient capital resources, which raises substantial doubt about its ability to continue as a going concern. [^] BOND PRICING: For the Week from August 7 to 11, 2017 -------------------------------------------------------- Company Ticker Coupon Bid Price Maturity ------- ------ ------ --------- -------- AM Castle & Co CASL 5.250 15.000 12/30/2019 AM Castle & Co CASL 7.000 58.000 12/15/2017 Alpha Appalachia Holdings Inc ANR 3.250 2.065 8/1/2015 Amyris Inc AMRS 9.500 63.440 4/15/2019 Armstrong Energy Inc ARMS 11.750 11.000 12/15/2019 Armstrong Energy Inc ARMS 11.750 11.000 12/15/2019 Avaya Inc AVYA 10.500 7.000 3/1/2021 Avaya Inc AVYA 10.500 8.550 3/1/2021 BPZ Resources Inc BPZR 6.500 3.017 3/1/2015 BPZ Resources Inc BPZR 6.500 3.017 3/1/2049 Bank of America Corp BAC 2.831 99.153 8/18/2017 Bon-Ton Department Stores Inc/The BONT 8.000 39.500 6/15/2021 BreitBurn Energy Partners LP / BreitBurn Finance Corp BBEP 7.875 22.500 4/15/2022 BreitBurn Energy Partners LP / BreitBurn Finance Corp BBEP 8.625 26.250 10/15/2020 BreitBurn Energy Partners LP / BreitBurn Finance Corp BBEP 8.625 20.500 10/15/2020 BreitBurn Energy Partners LP / BreitBurn Finance Corp BBEP 8.625 20.500 10/15/2020 Buffalo Thunder Development Authority BUFLO 11.000 38.250 12/9/2022 Caesars Entertainment Operating Co Inc CZR 5.750 86.250 10/1/2017 Chassix Holdings Inc CHASSX 10.000 8.000 12/15/2018 Chassix Holdings Inc CHASSX 10.000 8.000 12/15/2018 Chukchansi Economic Development Authority CHUKCH 9.750 44.500 5/30/2020 Chukchansi Economic Development Authority CHUKCH 9.750 43.500 5/30/2020 Cinedigm Corp CIDM 5.500 35.000 4/15/2035 Claire's Stores Inc CLE 9.000 51.250 3/15/2019 Claire's Stores Inc CLE 8.875 8.000 3/15/2019 Claire's Stores Inc CLE 6.125 46.500 3/15/2020 Claire's Stores Inc CLE 7.750 11.125 6/1/2020 Claire's Stores Inc CLE 9.000 50.875 3/15/2019 Claire's Stores Inc CLE 7.750 11.125 6/1/2020 Claire's Stores Inc CLE 9.000 50.875 3/15/2019 Claire's Stores Inc CLE 6.125 47.500 3/15/2020 Cobalt International Energy Inc CIE 2.625 29.000 12/1/2019 Cumulus Media Holdings Inc CMLS 7.750 29.013 5/1/2019 EV Energy Partners LP / EV Energy Finance Corp EVEP 8.000 38.806 4/15/2019 EXCO Resources Inc XCO 7.500 45.905 9/15/2018 EXCO Resources Inc XCO 8.500 49.230 4/15/2022 Emergent Capital Inc EMGC 8.500 47.795 2/15/2019 Energy Conversion Devices Inc ENER 3.000 7.875 6/15/2013 Energy Future Holdings Corp TXU 6.500 20.125 11/15/2024 Energy Future Holdings Corp TXU 11.250 70.125 11/1/2017 Energy Future Holdings Corp TXU 10.875 70.125 11/1/2017 Energy Future Holdings Corp TXU 9.750 29.250 10/15/2019 Energy Future Holdings Corp TXU 10.875 70.000 11/1/2017 Energy Future Intermediate Holding Co LLC / EFIH Finance Inc TXU 11.250 25.125 12/1/2018 Energy Future Intermediate Holding Co LLC / EFIH Finance Inc TXU 11.250 25.500 12/1/2018 Energy Future Intermediate Holding Co LLC / EFIH Finance Inc TXU 9.750 25.125 10/15/2019 Fleetwood Enterprises Inc FLTW 14.000 3.557 12/15/2011 GenOn Energy Inc GENONE 9.500 68.000 10/15/2018 GenOn Energy Inc GENONE 9.500 67.750 10/15/2018 GenOn Energy Inc GENONE 9.500 67.750 10/15/2018 Global Brokerage Inc GLBR 2.250 45.500 6/15/2018 Guitar Center Inc GTRC 9.625 52.497 4/15/2020 Guitar Center Inc GTRC 9.625 52.501 4/15/2020 Gulfmark Offshore Inc GLFM 6.375 20.250 3/15/2022 Homer City Generation LP HOMCTY 8.137 38.750 10/1/2019 Illinois Power Generating Co DYN 7.000 34.375 4/15/2018 Illinois Power Generating Co DYN 6.300 33.250 4/1/2020 IronGate Energy Services LLC IRONGT 11.000 35.250 7/1/2018 IronGate Energy Services LLC IRONGT 11.000 35.250 7/1/2018 IronGate Energy Services LLC IRONGT 11.000 35.250 7/1/2018 IronGate Energy Services LLC IRONGT 11.000 35.250 7/1/2018 Jack Cooper Holdings Corp JKCOOP 9.250 52.750 6/1/2020 Las Vegas Monorail Co LASVMC 5.500 0.833 7/15/2019 Lehman Brothers Holdings Inc LEH 4.000 3.326 4/30/2009 Lehman Brothers Holdings Inc LEH 2.070 3.326 6/15/2009 Lehman Brothers Holdings Inc LEH 5.000 3.326 2/7/2009 Lehman Brothers Holdings Inc LEH 2.000 3.326 3/3/2009 Lehman Brothers Holdings Inc LEH 1.500 3.326 3/29/2013 Lehman Brothers Holdings Inc LEH 1.383 3.326 6/15/2009 Lehman Brothers Holdings Inc LEH 1.600 3.326 11/5/2011 Lehman Brothers Inc LEH 7.500 1.226 8/1/2026 MF Global Holdings Ltd MF 3.375 27.500 8/1/2018 MModal Inc MODL 10.750 6.250 8/15/2020 Marathon Oil Corp MRO 5.900 102.596 3/15/2018 Mashantucket Western Pequot Tribe MASHTU 7.350 19.375 7/1/2026 Morgan Stanley MS 3.702 100.422 8/31/2017 Nine West Holdings Inc JNY 8.250 19.500 3/15/2019 Nine West Holdings Inc JNY 6.125 14.890 11/15/2034 Nine West Holdings Inc JNY 6.875 14.500 3/15/2019 Nine West Holdings Inc JNY 8.250 23.250 3/15/2019 Nortel Networks Capital Corp NT 7.875 98.000 6/15/2026 OMX Timber Finance Investments II LLC OMX 5.540 10.000 1/29/2020 Permian Holdings Inc PRMIAN 10.500 29.125 1/15/2018 Permian Holdings Inc PRMIAN 10.500 29.125 1/15/2018 Prospect Holding Co LLC / Prospect Holding Finance Co PRSPCT 10.250 48.250 10/1/2018 RS Legacy Corp RSH 6.750 0.555 5/15/2019 RS Legacy Corp RSH 6.750 0.555 5/15/2019 Renco Metals Inc RENCO 11.500 22.000 7/1/2003 Rex Energy Corp REXX 8.875 45.945 12/1/2020 Rolta LLC RLTAIN 10.750 17.016 5/16/2018 SAExploration Holdings Inc SAEX 10.000 60.125 7/15/2019 Samson Investment Co SAIVST 9.750 7.960 2/15/2020 SandRidge Energy Inc SD 7.500 2.081 2/15/2023 Southwestern Energy Co SWN 7.350 98.691 10/2/2017 SunEdison Inc SUNE 0.250 2.313 1/15/2020 SunEdison Inc SUNE 2.375 2.300 4/15/2022 SunEdison Inc SUNE 5.000 10.500 7/2/2018 SunEdison Inc SUNE 2.750 2.250 1/1/2021 SunEdison Inc SUNE 2.625 2.000 6/1/2023 SunEdison Inc SUNE 3.375 2.300 6/1/2025 TMST Inc THMR 8.000 18.750 5/15/2013 Talos Production LLC / Talos Production Finance Inc TALPRO 9.750 62.125 2/15/2018 Talos Production LLC / Talos Production Finance Inc TALPRO 9.750 62.125 2/15/2018 TerraVia Holdings Inc TVIA 5.000 37.000 10/1/2019 TerraVia Holdings Inc TVIA 6.000 37.000 2/1/2018 Terrestar Networks Inc TSTR 6.500 10.000 6/15/2014 UCI International LLC UCII 8.625 6.875 2/15/2019 Vanguard Natural Resources LLC / VNR Finance Corp VNR 7.875 20.500 4/1/2020 Vanguard Operating LLC VNR 8.375 21.000 6/1/2019 Walter Energy Inc WLTG 9.875 0.834 12/15/2020 Walter Energy Inc WLTG 8.500 0.834 4/15/2021 Walter Energy Inc WLTG 9.875 0.834 12/15/2020 Walter Energy Inc WLTG 9.875 0.834 12/15/2020 Walter Investment Management Corp WAC 4.500 17.563 11/1/2019 iHeartCommunications Inc IHRT 10.000 66.000 1/15/2018 iHeartCommunications Inc IHRT 6.875 59.983 6/15/2018 rue21 inc RUE 9.000 0.500 10/15/2021 rue21 inc RUE 9.000 0.741 10/15/2021 ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. 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The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2017. All rights reserved. ISSN: 1520-9474. 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